The Polish GDP declined by 0.4% compared to the previous quarter. But the Polish economy has been less affected by the pandemic than those of the other countries of the region.
Poland officially entered into recession for the first time since the communism, after its gross domestic product (GDP) fell from 7.9% in the 2nd quarter 2020 year on year and 8.9% compared to the previous quarter, announced on Friday in its first estimate of the national statistics Office (GUS).
in The 1st quarter, Polish GDP declined by 0.4% compared to the previous quarter and increased 1.6% compared to the same period last year. The estimate for the 2nd quarter takes into account the effects of the pandemic and government measures to combat it, said GUS in a press release.
steady Growth
According to the Polish Institute of Economy (PIE), a centre of analysis dependent on the government, the Polish economy has been less affected by the pandemic than those of the other countries of the region. With its 38 million inhabitants, Poland is by far the largest economy in central and eastern Europe.
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over The next few quarters, its economy “is expected to resume,” said PIUS, quoted by PAP. Poland, which has enjoyed uninterrupted growth since the transition to a market economy 30 years ago, has posted a growth of 4.1% in 2019 after an increase of 5.3% in 2018. This year, the country should see its GDP reduced to 3.4%, according to a revised projection of the government, compared to a 3.7% rise expected.
