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Poland with lowest decline in GDP in CEE

Christian Fernsby |
Due to the coronavirus pandemic, Poland's GDP will fall by 3.5 percent in 2020 on an annual basis, estimates the European Bank for Reconstruction and Development (EBRD).

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Topics: POLAND    GDP   

Materialization of this forecast would mean that Poland, together with Hungary, will record the lowest decline in GDP in the region of Central Europe and the Baltic States.

The EBRD also forecasts that in 2021 the Polish economy will bounce back and grow by 4 percent y/y.

The degree of improvement will depend on the scale and pace of relaxation of national restrictions and the return to normality in the second half of the year.

The EBRD estimates that GDP in the entire Central European region and the Baltic States is expected to fall by 4.3 percent in 2020 and a rebound of 4.5 percent is expected in 2021.

It is stipulated that these projections are subject to "unprecedented uncertainty".

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