Sun, 24 Sep 2023

WARSAW, Sept. 11 (Xinhua) -- Poland's economy is projected to grow by 0.5 percent and the country's headline inflation is expected to reach 11.4 percent in 2023, the European Commission said in its summer economic forecast published on Monday.

The Commission's new gross domestic product (GDP) growth forecast for Poland contrasts with its previous 0.7 percent growth projection released in May. In 2024, the Commission expects Poland's economy to grow by 2.7 percent.

The Commission's 2023 inflation forecast was reduced to 11.4 percent from 11.7 percent, and the 2024 forecast was raised to 6.1 percent from 6.0 percent.

Adam Glapinski, governor of the National Bank of Poland (NBP), told a press conference last week that his institution expects inflation to decline faster following a surprising reference interest rate cut by 75 basis points to 6 percent.

He said that the NBP expected Poland's economy to grow possibly at the level of zero percent this year.

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