Poland's GDP to grow by 3.5 pct in 2021: World Bank

The World Bank (WB) upheld its October 2020 forecast, according to which Poland's economy will expand by 3.5 percent in 2021.

In 2022, the Polish GDP is expected to grow by 4.3 percent, the bank reported on Tuesday.

The report included neither a justification nor new forecasts for Poland regarding other economic indices.

The World Bank lowered its global growth forecast to 4 pct in 2021. According to the WB, these forecasts are "highly uncertain" and that at worst, global GDP will only grow by 1.6 pct should the worst-case scenario materialise.

In 2020, the global economy shrank by 4.3 pct. The World Bank predicts that in 2021 it will grow by 4 pct, one fifth less than the pre-pandemic assumptions forecast.

In the half-yearly report of the Global Economic Prospects, the rating of more than half of the countries has been lowered.

The WB stressed that developing countries face increased debt risk amid the pandemic. At the same time, it was pointed out that without global efforts, the world may not avoid a new crisis.