
Poland: great opportunities from energy and automotive, inflation permitting
In the country, which became the fifth European economy with an average GDP of 4% in 2009-19, per capita income grew at a rate of 5.3%.
In the country, which became the fifth European economy with an average GDP of 4% in 2009-19, per capita income grew at a rate of 5.3%.
With consumer demand expected to rise, supply will struggle: businesses face rising commodities prices, lack of components and staff shortages.
While private consumption accounts for 58% of GDP, Warsaw’s economic performance depends less on exports than its regional partners.
While the restrictions were similar to EU partners, the economic damage was much less: great opportunities from infrastructure, logistics and high-tech.
While the reduction in foreign demand was responsible for two-thirds of the 2020 recession, industry and ICT will rebound this year.
Last year Poland recorded current account surpluses in each month, accounting for 18.4 billion euros. But retail sales fell 6.0% YoY in January.
Great hope is placed on the active contributions of ICT technologies, where growth in Latvian industry this year could reach 3-4%.
Private consumption will remain strong thanks to rising incomes, pension indexation, higher minimum wages and a vibrant labour market.
Latvian GDP growth fell by -9.2% and the current account deficit is on the rise. Loans to the private sector are held back by an extensive informal sector.
Tallinn’s GDP will fall by 4.5%, while in 2021-22 will recover with the rebound in private consumption and investment. Public debt remains the lowest in the EU.