GDP in 2020 fell 2.5% in real terms on an annual basis. The Central Statistics Office revised GDP data last year. Compared to the April estimate, the decline turned out to be 0.2 percentage point lower.
GDP is an objective indicator when it comes to assessing the health of an economy. Economist Dr. Grzegorz Piątkowski welcomed the correction of the data, stressing that it is important today to take advantage of the good economic situation.
Before the pandemic, we had one of the lowest unemployment rates in Europe. During the pandemic, we were able to walk with relatively dry feet. Poland’s results were the least bad in all of Europe. The key point now is that we should be able to capitalize on this and insure the economy against potential shutdowns should a potential fourth wave emerge, because it’s not clear that it will come. It is also important that we allow entrepreneurs to act, i.e. we do not hinder their work – Dr. Grzegorz Piątkowski said.
The Polish economy is returning to a rapid growth trajectory. The government, which revised this year’s budget, has assumed that GDP will rise by 4.9%.
GDP growth of 4.6% is envisaged in next year’s budget law.
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