Poland’s economy recovered in the third quarter of 2020

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Poland’s economy has recovered in the third quarter of 2020, according to data released on Friday by the Statistics Office.

Poland, the largest economy in Central and Eastern Europe, grew by 7.7% in the third quarter of 2020 compared to the previous three months.

This is slightly below the estimates of analysts interviewed by Reuters, who expected an advance of 8%.

Also, GDP decreased by 1.6% in the third quarter from the same period in 2019, while analysts forecast a decline of 1.7%.

Last week, Prime Minister Mateusz Morawiecki announced new support measures to help Poland’s economy survive the second wave of the pandemic, worth 9-10 billion zlotys (2.4-2.6 billion dollars).

The amount could increase by 5-10 billion zlotys if total restrictions are introduced, the Polish official explained, adding that the Government’s funding needs are already met.

During the first wave of the pandemic, Poland introduced a support package of more than 300 billion zlotys to help the affected economy and companies.

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