In April we have a 9 billion budget surplus – the Niezalezna portal has found out. So, despite the war on our eastern border, the difficult raw materials situation, the influx of war refugees and the lack of aid from the EU, our economy – instead of the planned deficit – generated a huge profit.
The information about the surplus is another fact confirming the strong foundations and condition of the Polish economy – despite the well-known troubles with inflation, raw materials and the geopolitical situation.
“The information about the surplus is another fact confirming the strong foundations and condition of the Polish economy – despite the well-known troubles with inflation, raw materials and the geopolitical situation. The baseline scenario still appears to be that of a mild recession, if there is one at all. Poland’s GDP expanded a very robust 9.1% y/y (seasonally adjusted) in the first quarter, brightening the outlook for the rest of the year,” Intellinews.com wrote yesterday.
As we read there, the second quarter is expected to be strong enough to maintain full-year growth at the level of 4.5%-5%. If a recession does occur, it will only be of a “technical” nature, and the contraction of the economy will perhaps only occur in the third and fourth quarters.