Impact of Coronavirus (COVID-19) on real GDP in Poland 2020

The outbreak of coronavirus in the world and the occurrence of the first infected individuals in Poland may affect the economic growth of the country. At the end of 2019, the Ministry of Finance, when preparing the strategy for 2020-2023, estimated the GDP index at 3.7 percent in 2020. After the outbreak of the coronavirus, most banks in Poland decided to revise the GDP growth forecasts. Thus, mBank assumes that GDP in 2020 will reach 1.6 percent. The largest bank in Poland, PKO BP, does not expect such a drastic decrease, predicting that the ratio will reach 3.5 percent, which is not much lower than the estimates of the Ministry of Finance in 2019.

Expected growth of the real Gross Domestic Product (GDP) caused by the coronavirus (COVID-19) outbreak in Poland in 2020, by major banks' scenarios

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Sources

Release date

March 2020

Region

Poland

Survey time period

2020

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Statistics on "The coronavirus disease (COVID-19) pandemic 2019-20"

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