The situation of the Polish economy is exceptionally good and GDP growth may reach around 5% in 2021, and in 2022 it will be approximately 5.4%. NBP President Adam Glapiński said in an interview on Sunday. In his opinion, inflation will slow down next year.

When will inflation fall? The head of the NBP recalled the history

Adam Glapiński believes that prices will soon stop growing.

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The head of the National Bank of Poland was asked on Radio Jedynka about the expected GDP growth this year and next. Glapiński said that when creating forecasts, we must take into account the risks of, among other things, successive waves of a pandemic or crisis in the Middle East or oil supply problems.

– If we exclude such elements, we expect with a huge probability that in 2021 (…) GDP growth will reach about 5%, and in 2022 it will be better, that is, about 5.4%. It will be two years in which we will take more steps to bring us closer to the prosperity of Western Europe Adam Glapinski said.

The Polish economy is in an excellent position at the moment. More important from the point of view of the NBP (…), that the Polish economy is quite balanced, that there is a relationship between individual categories, and that it grows more or less parallel. The state of the Polish economy is exceptionally good – added.

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In his opinion, further development in the next 20 years will bear the burden of EU climate policy and increase electricity prices. He assessed that for Poland, as a coal-dependent country, the transition period to clean energy should be extended, since the countries of Western Europe, when they were at their current level of development, could use any energy source.

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According to the governor of NBP, although inflation has recently reached an alarming level, incl. And due to the increase in electricity, crude oil and freight prices, it is expected to slow next year.

– According to the best knowledge, confirmed by foreign centers, such as the World Bank or the International Monetary Fund, inflation in Poland should generally slow down, and its level should generally fall, close to the upper limit of the deviations in the inflation target, i.e. slightly above 3.5 %. Next year – said Adam Glapinsky, noting that analysts are working with possibilities and the only sure factor is an increase in electricity prices, because they are caused by the energy transition.

He noted that the National National Bank’s inflation target was 2.5%. Plus or minus one percent.


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# National Bank of Poland

#Adam Glapinski