May 24, 2022
Poland’s economy performed well in February, but there are concerns about the future.
Poland has the sixth-largest GDP in Europe and is a major manufacturer of machinery, automobiles, and electronics, as well as a variety of minerals such as coal, copper, zinc, and rock salt.
The country’s economic performance in February was strong, however it does not reflect the entire impact of the conflict. After a 4.2 percent monthly increase in January, industrial output in the country increased 17.6% year on year and 2.1 percent month on month seasonally adjusted terms in February. Production is presently 24% higher than it was at the end of 2019.
Inflation is one of the looming clouds on Poland’s horizon. Even before the conflict, Poland, like most of Europe and beyond, was dealing with continually rising prices.
In January, the government temporarily reduced the value added tax on gas, food, and fuel in order to limit rising consumer costs, and headline inflation fell to 8.5 percent in February from 9.4 percent in January.
Source: CNBC
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