S&P forecasts Poland’s GDP to drop by 4 pct in 2020

The American credit rating agency S&P has maintained its forecast for Poland's GDP to decline by 4 percent in 2020.

However, the agency believes that the country’s GDP will bounce back next year with a forecast growth of 5 percent, bringing Poland's GDP per capita once again above the symbolic USD 15,000. threshold.

A weighted expert consensus for September, made on behalf of the Polish Press Agency (PAP), analysts revised upwards their 3rd quarter GDP growth forecasts to -3.8 from -4.3 percent in August.

The experts contracted by PAP now believe that Poland’s GDP will fall by 3,2 percent and not 3,8 percent as forecast in August.

Before the impact of the global coronavirus pandemic also reached the Polish economy, the country had experienced uninterrupted yearly GDP growth since 1991, a record-streak it shares with Australia.