Poland could return to robust growth by 2021

07 Aug 2020

Poland’s economy is expected to return to roughly 4.0%-4.5% growth by 2021, said Finance Minister Tadeusz Koscinski earlier last month. 

The finance ministry said it is in no hurry to make any changes to the state budget, which has been recently pressured by the growing coronavirus pandemic. 
“Public finances are healthy,” Koscinski said speaking at a news conference. 

Poland recorded a 17 billion zloty  (£3.44 billion) deficit during the first six months of the year.

However, the country has good chances of emerging from the coronavirus-led global economic slowdown in good shape, the finance minister said in an interview for the Nasz Dziennik daily. 

Koscinski also noted that Poland’s economic downturn was forecast at roughly 4%, less than the rest of the European Union, noting that the Polish economy had a positive chance of returning to its pre-coronavirus level by 2021 already. 

The finance minister attributed Poland’s robust stance to an increased pace of economic growth, low unemployment rates and a record-low public debt. He noted that these factors put the country in a relatively good position compared to its European counterparts in a post-pandemic era. A spike in consumption by its 38 million population could also boost economic activity. 

"We have chances to come out of the slowdown smoothly," Koscinski said.