Last Thursday, the Central Statistical Office (GUS) announced the so-called flash estimate of Gross Domestic Product in the third quarter of 2020, which shows that the Polish economy is quickly making up for the losses caused by the coronavirus pandemic. According to the Central Statistical Office (GUS), in the third quarter of 2020 the GDP increased by 7.7 percent compared to the second quarter and is only 1.6 percent lower compared to the third quarter of the previous year.

There are many indications that it was primarily due to domestic consumption and exports.

At the same time, Eurostat presented data on the development of industrial production in September this year compared to September 2019, which shows that Poland is the leader in this regard in the whole EU.

In Poland, industrial production in September increased by 3.3 percent; the second country in the EU that also recorded an increase in industrial production was Portugal (by 2.7 percent); in the remaining 25 countries there were continuous declines.

Compared to other EU countries, the EC’s forecasts for the Polish economy are positive; in 2020 the GDP decline is expected to reach -3.6%, with only 3 countries expected to be in a better position than us: Lithuania with a GDP decline of -2.2%, Ireland -2.3% and Sweden -3.4%.

Zbigniew Kuźmiuk, economist, MEP

Tłum. K.J.