Poland likely to avoid recession: PM

Poland will probably see economic growth this year, thereby avoiding a recession, the country’s Prime Minister Mateusz Morawiecki said.

He told Polish public television TVP at the World Economic Forum in Davos, Switzerland, on Wednesday that the main European economies, however, might experience a “hard landing”.

According to Morawiecki, public investment is the way out of recession: “As much investment as possible, including public investment, because it replaces what is missing … private investment.”

Due to declining commodity prices, the Prime MInister said, from March or April this year inflation might begin to fall. However, January would still see elevated Consumer Price Index levels, he added as quoted by Xinhua news agency report.

Inflation in Poland declined from a record-high of 17.9 per cent in October to 17.5 per cent in November and 16.6 per cent in December. However, a series of price hikes in January 2023 will likely to push inflation up again.

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