Markets Actual Q2 Q3 Q4 Q1 2022
Currency 3.76 3.76 3.78 3.8 3.82 3.86
Stock Market (points) 62094.24 61214 59906 58624 57367 54852
Government Bond 10Y (%) 1.84 1.9 1.96 2.03 2.11 2.25

Overview Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) -0.70 2.1 3.2 1.1 0.8 0.6
GDP Annual Growth Rate (%) -2.80 7.9 4.1 3.7 3.2 3.6
Unemployment Rate (%) 6.40 7.1 6.8 6.6 6.4 6.1
Inflation Rate (%) 4.30 4 3.8 3 2.9 2.5
Inflation Rate Mom (%) 0.70 0.4 0.3 0.5 0.7 0.6
Interest Rate (%) 0.10 0.1 0.1 0.1 0.25 0.5
Balance of Trade (EUR Million) 883.00 -800 1600 300 -1000 -300
Current Account (EUR Million) 1619.00 -220 540 280 750 300
Current Account to GDP (%) 3.60 0.9 0.9 0.9 0.5 0.5
Government Debt to GDP (%) 57.50 57 57 57 54.5 54.5
Government Budget (% of GDP) -7.00 -4.4 -4.4 -4.4 -1.8 -1.8
Business Confidence (points) -4.00 -6.2 -4.3 -7 -6.4 -3
Manufacturing PMI (points) 53.70 55.1 53.4 52.5 53.6 54
Consumer Confidence (points) -22.50 -14 -9 -8 -7 1
Retail Sales MoM (%) -2.20 0.5 -1 0.5 0.7 0.5
Corporate Tax Rate (%) 19.00 19 19 19 19 19
Personal Income Tax Rate (%) 32.00 32 32 32 32 32

GDP Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) -0.70 2.1 3.2 1.1 0.8 0.6
GDP Annual Growth Rate (%) -2.80 7.9 4.1 3.7 3.2 3.6
GDP (USD Billion) 592.16 550 550 550 625 625
GDP Constant Prices (PLN Million) 618643.90 544969 578470 641534 638441 664629
Gross Fixed Capital Formation (PLN Million) 143509.10 88711 94935 148819 148101 154176
GDP per capita (USD) 17386.90 15900 15900 15900 16800 16800
GDP per capita PPP (USD) 33086.40 32400 32400 32400 33600 33600

Labour Actual Q2 Q3 Q4 Q1 2022
Unemployment Rate (%) 6.40 7.1 6.8 6.6 6.4 6.1
Long Term Unemployment Rate (%) 0.60 2 1.7 1.6 1.5 1.2
Youth Unemployment Rate (%) 13.90 14.6 14.3 14.1 13.9 13.9
Labour Costs (points) 120.20 133 129 123 123 127
Wages (PLN/Month) 5456.81 5205 5272 5588 5593 5750
Wages in Manufacturing (PLN/Month) 5724.81 5204 5317 5697 5431 5863
Wage Growth (%) 8.00 3.6 2 2.4 2.5 2.9
Minimum Wages (EUR/Month) 614.08 614 614 614 640 640
Population (Million) 37.96 37.95 37.95 37.95 37.92 37.92
Retirement Age Women 60.00 60 60 60 60 60
Retirement Age Men 65.00 65 65 65 65 65
Labor Force Participation Rate (%) 56.40 55.9 55.5 55.4 55.6 56
Employment Change (%) -1.30 2.5 2.4 3.8 3.4 2.5
Employment Rate (%) 69.40 67.9 68 68.4 68.6 69

Prices Actual Q2 Q3 Q4 Q1 2022
Inflation Rate (%) 4.30 4 3.8 3 2.9 2.5
Inflation Rate Mom (%) 0.70 0.4 0.3 0.5 0.7 0.6
Consumer Price Index CPI (points) 191.80 192 192 191 196 196
Core Inflation Rate (%) 3.90 3.6 3.2 2.5 2.6 2.3
GDP Deflator (points) 112.89 115 116 116 116 119
Producer Prices (points) 109.70 109 109 109 112 112
Producer Prices Change (%) 3.90 4 3.6 3.2 2.7 2.5
Food Inflation (%) 0.50 1.2 1.5 1.4 1.8 1.9
Harmonised Consumer Prices (points) 112.40 114 113 113 116 116

Money Actual Q2 Q3 Q4 Q1 2022
Interest Rate (%) 0.10 0.1 0.1 0.1 0.25 0.5
Interbank Rate (%) 0.11 0.11 0.11 0.11 0.26 0.26
Foreign Exchange Reserves (USD Million) 155667.20 169000 162000 166000 168000 172000
Deposit Interest Rate (%) 0.00 0 0 0 0.15 0.15
Private Debt to GDP (%) 119.70 126 126 126 118 118
Cash Reserve Ratio (%) 0.50 0.5 0.5 0.5 0.5 0.5

Trade Actual Q2 Q3 Q4 Q1 2022
Balance of Trade (EUR Million) 883.00 -800 1600 300 -1000 -300
Current Account (EUR Million) 1619.00 -220 540 280 750 300
Current Account to GDP (%) 3.60 0.9 0.9 0.9 0.5 0.5
Imports (EUR Million) 20439.00 16900 18900 18500 19600 20100
Exports (EUR Million) 21322.00 18500 19100 17500 18600 19800
Foreign Direct Investment (EUR Million) 209504.80 196900 196900 196900 201500 201500

Government Actual Q2 Q3 Q4 Q1 2022
Government Debt to GDP (%) 57.50 57 57 57 54.5 54.5
Government Budget (% of GDP) -7.00 -4.4 -4.4 -4.4 -1.8 -1.8
Government Budget Value (PLN Million) -3419.30 -8600 -42000 -7600 -136600 -111200
Government Spending (PLN Million) 131004.90 112298 112423 135852 135197 140743
Government Spending to GDP (%) 42.00 44 44 44 42 42
Government Revenues (PLN Million) 101055.50 177500 218200 369000 111600 379000
Government Debt (PLN Million) 1122195.04 1145000 1172000 1191000 1189000 1151000
Fiscal Expenditure (PLN Million) 104474.80 219500 324400 505600 108500 490200

Taxes Actual Q2 Q3 Q4 Q1 2022
Corporate Tax Rate (%) 19.00 19 19 19 19 19
Personal Income Tax Rate (%) 32.00 32 32 32 32 32
Sales Tax Rate (%) 23.00 23 23 23 23 23
Social Security Rate (%) 35.85 35.85 35.85 36.12 35.85 35.85
Social Security Rate For Companies (%) 22.14 22.14 22.14 22.41 22.14 22.14
Social Security Rate For Employees (%) 13.71 13.71 13.71 13.71 13.71 13.71

Business Actual Q2 Q3 Q4 Q1 2022
Business Confidence (points) -4.00 -6.2 -4.3 -7 -6.4 -3
Manufacturing PMI (points) 53.70 55.1 53.4 52.5 53.6 54
Industrial Production (%) 18.90 8.5 3.6 4.5 4 3.4
Industrial Production Mom (%) 2.90 0.8 -1.2 0.5 0.9 0.7
Manufacturing Production (%) 20.90 9.6 3.8 5 4.5 4
Car Production (Thousand Units) 30.70 29 38 32 28 37
Car Registrations 47849.00 36400 45100 52400 51200 59400
Corporate Profits (PLN Million) 185198.20 96200 140900 191000 59900 215000

Consumer Actual Q2 Q3 Q4 Q1 2022
Consumer Confidence (points) -22.50 -14 -9 -8 -7 1
Retail Sales MoM (%) -2.20 0.5 -1 0.5 0.7 0.5
Retail Sales YoY (%) 17.10 7.8 2.3 4.2 3.6 3
Consumer Spending (PLN Million) 307464.00 303152 409394 318840 317303 330318
Personal Savings (%) 5.37 7.2 6.2 14.2 -1.6 14
Consumer Credit (PLN Million) 792508.88 841262 818513 818274 817869 847732
Gasoline Prices (USD/Liter) 1.41 1.2 1.14 1.09 1.03 0.97
Households Debt To Income (%) 57.67 65 65 65 61 61

Housing Actual Q2 Q3 Q4 Q1 2022
Construction Output (%) -12.60 12.6 5.9 4.5 3.6 3
Housing Index (points) 138.42 151 150 155 160 168
Building Permits 27230.00 38700 73200 94200 34200 106200


This page has economic forecasts for Poland including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Poland economy.