S&P downgrades Poland's GDP growth forecast for 2024
Global rating agency Standard and Poor's (S&P) has lowered Poland's economic growth forecast to 2.8 percent in 2024 from 3.1 percent expected earlier.
The revision of the GDP growth forecast for 2024 is due to Poland's subdued activity in Western Europe, S&P said in a report published on Wednesday
The agency also expects Poland's economic growth to reach 3.1 percent in 2025.
Poland's average annual inflation, according to S&P, will hit 5.4 percent at the end of this year and fall to 4.1 percent in 2025, then to 3.7 percent in the two following years.
The agency also expects that Poland's Monetary Policy Council, the central bank's rate-setting body, will maintain interest rates at the current 5.75 percent until the end of 2024, followed by a total of 100-bps cut over the course of 2025 - to 4.75 percent and another 175 bps in 2026 to 3.00 percent. (PAP)
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