“We expect private consumption to improve this year and next, supported by the recent increase in the minimum wage, social programmes, strong wage growth and low inflation. Fiscal policy will also remain relatively loose this year, although weak growth in Germany is likely to impact negatively on the German economy. “Polish economy” – we read in the “World Economic Outlook – March 2024” report.
The agency expects that consumer price index inflation at the end of this year will reach 4.8 percent and 3 percent at the end of next year.
“Given the uncertainty surrounding headline inflation, the National Bank of Poland announced that it will focus on core inflation, which remains high at 6.9% and is far from the central bank’s target. Inflation expectations for households and businesses have fallen significantly.” However, it concluded that “on Against the backdrop of high inflation, we expect the central bank to keep interest rates at 5.75% for most of the year with a small cut of 25 basis points in the fourth quarter of 2024.”
Inflation in Poland is falling
A few days ago, AM Glabinski confirmed that inflation is on a downward trend. – It is declining very quickly, and at the same time economic growth has begun to accelerate. Compared to neighboring countries, Poland is starting to return to the path of very decent economic growth. In less than a year, inflation fell by 14.5 percentage points. He said the historical inflation rate has fallen, among other things thanks to the NBP policy.
In his opinion, in 8 to 10 years, the Polish economy will be at the current level of Great Britain and France. I advise those who want to discuss the introduction of the euro in Poland prematurely to think twice, because in eight to ten years such a discussion will make sense from an economic point of view. (…) Previously, this was an act at the expense of Poland – said Glabinski.
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