The Polish economy will grow by 3.8 percent this year, and in 2022 GDP growth will reach 4.5 percent. The Institute for Economic Forecasting and Analytics (IPAG) forecasts.

In its quarterly macroeconomic forecast for 2021-2022 published on Wednesday, the institute wrote that the decline in GDP in the first quarter was less than previously expected due to the epidemic shutdown of much of the economy.

According to IPAG, record growth is expected in the second quarter of 2021, mainly due to the lower benchmark in the second quarter of 2020. At the start of the crisis.

According to expectations, the Polish economy will recover from last year’s losses and return to growth.

Domestic demand remains the main driver of growth, which is expected to rise by 3.5% this year and 4.7% next year. The researcher said.

Consumption is expected to increase by 3.8% in 2021. And by 4.5% in 2022.

Investments are not expected to return to growth until the second half of the year.

According to the institute, the economic recovery in 2021 will bring the unemployment rate down to 6.0%. By the end of the year.

Projections assume an average inflation rate of 3.5 percent this year.