Poland economy expands in Q1

Figures

Photo by ratmaner/Shutterstock.com

Poland's gross domestic product (GDP) advanced 8.5% year-on-year in the first quarter of 2022, accelerating from an upwardly revised 7.6% expansion in the previous three-month period, a preliminary estimate showed on Tuesday.

On a seasonally adjusted quarterly basis, the GDP rose by 2.4%, following an upwardly revised 1.8% growth in the previous period, according to figures by the Warsaw-based Central Statistical Office (GUS).

Still, Russia's invasion of Ukraine is a serious setback to the country's recovery from the pandemic.

Poland is hosting almost 3 million refugees and is providing cash transfers to households hosting refugees as well as direct payments to refugees that could have a fiscal cost of 0.5%-1% of GDP depending on the scale and duration of refugee inflows, according to the International Monetary Fund (IMF).

ADVERTISEMENT

MNB Raising Lenders' Reserve Ratio MNB

MNB Raising Lenders' Reserve Ratio

Gov't to Launch HUF 700 bln Business Credit Scheme  Government

Gov't to Launch HUF 700 bln Business Credit Scheme 

Electric, Hybrid Vehicles to Take the Lead in Europe Within ... Automotive

Electric, Hybrid Vehicles to Take the Lead in Europe Within ...

Curator's Tour in English to Be Held at Kunsthalle Art

Curator's Tour in English to Be Held at Kunsthalle

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.