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Monday, February 17, 2025

Economic growth. Poland is a leader in the region

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Poland remains the leader in terms of economic growth in Central and Eastern Europe – said the Polish Economic Institute (PIE). Analysts have estimated the growth of Gross Domestic Product in 2024 at 2.8 percent and in 2025 – 3.5 percent.

“Investments play a key role, the dynamics of which will amount to 7% in 2025, which clearly distinguishes Poland from the region. The Czech Republic predicts a GDP growth of 1% in 2024 and 2.3% in 2025, driven by both private consumption and investments, which will increase by 2.9 percent. Hungary will achieve a GDP growth of 0.8 percent in 2024 and 2.4 percent in 2025, which is mainly due to growing household consumption. In Slovakia, the forecast growth is 2.2 percent and in 2025 due to lower household consumption households” – noted in the PIE publication.

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GDP forecasts for the countries of the regionpie.net.pl

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Inflation and revival of industrial production

PIE analysts assessed that growth is possible in some countries in the region inflation in 2025. In Poland, inflation is expected to increase to 4.3%, which will result from unfreezing energy prices.

“In the Czech Republic, inflation in 2024 will amount to 2.4 percent, and in 2025 it will decrease slightly to 2.3 percent. In Hungary, the pace of inflation decline will be equally gentle – CPI will decrease from 3.7 percent in 2024. to 3.6 percent in 2025. Slovakia will remain the country with the highest inflation in the region – in 2025 it will amount to 4.4 percent. y/y, which means an increase of 1.5 percentage points compared to 2024. – said PIE experts.

In their opinion, in region a significant revival of industrial production can be expected.

“In Poland, an increase of 4.2 percent is expected, which puts the country first in the region. In Slovakia, after a decline of 0.4 percent in 2024, the forecast increase will be 3.3 percent. Hungary, which in 2024 recorded a decline of 3.2 percent, they are expected to increase production by 3.1 percent in 2025 in the Czech Republic, where it is expected in 2024 a decrease of 0.7%, an increase of 2% is expected in the next year. – wrote PIE economists.

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