Poland's GDP. Disappointing IMF forecasts

The International Monetary Fund reduced – from 1.2 percent. up to 0.6 percent – forecast of Poland’s GDP dynamics in 2023. However, the forecast for next year was slightly increased.

The latest version of the IMF’s World Economic Outlook cyclical report shows that the International Monetary Fund (IMF) reduced – from 1.2 percent. up to 0.6 percent – forecast of Poland’s GDP dynamics this year.

IMF increases GDP forecast for 2024.

Let us recall that the forecast presented in July was 1.2%. was four times higher than that presented three months earlier.

However, positive news is the increase in the forecast for next year’s GDP – from 2.2 percent. up to 2.3 percent

The IMF also presented forecasts for average annual inflation in 2023 and 2024 in Poland. This year it is expected to be 12 percent, and next year 6.4 percent.

According to the IMF, Poland’s current account surplus will amount to 1%. GDP this year, and in 2024 it will decrease to 0.3%. GDP.

Forecasts for Poland are part of a large study on global economic growth. IMF estimates show that, unlike in Poland, the prospects for this year have not changed and a 3% growth rate is still expected. GDP increase. At the same time, experts slightly reduced the expected economic growth next year by 0.1 percentage point. up to 2.9 percent This means that global growth will remain below the historical average.

– However, there are significant discrepancies. The slowdown is more pronounced in advanced economies than in emerging and developing markets. Among advanced economies, the United States surprised on the upside, with resilient consumption and investment, while activity in the euro zone was revised downward – stated in the report.

– Many emerging economies have proven quite resilient and have surprised to the upside, with the notable exception of China, which is facing mounting headwinds from the housing crisis and weakening confidence – added.

Forecasts for other countries

The IMF forecasts that US GDP will grow by 2.1%. this year and by 1.5 percent next time. In turn, the IMF forecast for the euro zone assumes that GDP will increase by 0.7%. in 2023 and by 1.2 percent next year. In the case of Germany, GDP is forecast to decline by 0.5% this year. and an increase of 0.9%. in 2024. As for China, growth is expected to be 5%. and 4.2 percent