Unemployment has risen: consumption and investment face a higher level of uncertainty and a decline in capacity utilization induced by lower demand.
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.
The lack of investment weighs on real prospects and opportunities in the medium to long term, as private investment has been below the EU average for years.
EU leaders have reached a compromise to unlock the €1.8 tn Recovery Fund: any sanction could only start after approval by the EU Court of Justice.
Brussels is ready to endorse the alternatives and proceed without Warsaw and Budapest, whose subsidies are estimated at 3% of GDP.
The diversified economic structure and low exposure to sectors affected by the pandemic allow Warsaw to contain the recession.
Before the pandemic outbreak, the economy was expected to slow down slightly (+3%), with a decrease in exports and investments.
A little bit of history: shock therapy impact and perspective.
Introduction. Reason, attraction & goal: what to look for, and why?