Republic of Poland: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Poland

Author: International Monetary Fund. European Dept.

Volume/Issue: Volume 2025 Issue 006

Publication date: January 2025

ISBN: 9798400298813

$20.00

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Topics covered in this book

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Banks and Banking , Exports and Imports , Inflation , Labor , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Demography , Fiscal stance , Inflation , Credit , Central bank policy rate , Aging , Labor markets , Output gap , Energy prices

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Summary

The Polish economy is recovering, driven by a rebound in domestic demand. Private consumption growth is being driven by rising nominal and real wages, and lower inflation; still, inflation remains well above target against a tight labor market. The current account surplus has diminished in 2024 as imports increased, while exports are contained by the subdued growth in the Euro Area. Fiscal pressures remain high, in part due to elevated defense spending.