The year 2024 in economic forecasts
23.01.2024
In the report “Great Hopes An Economic Outlook for 2024” published by PKO BP, the bank’s analysts presented 10 main topics – forecasts for the coming year, which will have an impact on the Global and European economy. Among the many interesting predictions, it is worth mentioning those dedicated to Poland and the region of Central and Eastern Europe:
![](https://www.trade.gov.pl/wp-content/uploads/2024/01/214191683_l_normal_none-1-scaled-e1705943729271.jpg)
„Is Poland already an export power?”
The expansion of export, became the main driving force of the Polish economy after joining the EU in 2004. Poland is becoming an increasingly open economy, with the export-to-GDP ratio reaching a record high of 62.9% in 2023, up from around 34% in 2004. The current level of Poland’s export openness is above the EU average.
Poland has a chance to take advantage of the current changes in global value-added chains. It is indicated as a leading place for the relocation of activities within the framework of reshoring (relocation of activities carried out in another country to a country), nearshoring (relocation of production to a culturally similar country) and friendshoring (relocation of production to a member state of a common geopolitical bloc). According to PKO BP analysts, “the Polish economy is characterized by competitiveness, solid infrastructure, a large domestic market, openness to the international workforce and a strategically advantageous geographical location.” All this means that in 2024 Poland will strengthen its position as a connecting country in global trade.
“Is Poland still a leader in Central and Eastern Europe?”
PKO BP analysts believe that Poland still has one of the most optimal relations between the strength of economic growth and economic stability among the countries of Central and Eastern Europe. In 2023, Poland once again avoided recession and is rebuilding its economy quickly – in 2024, Poland may be the leader of growth in the region (according to PKO BP forecasts, the growth may amount to 3.9% of GDP y/y). This economic recovery should not lead to imbalances – “inflation, wage growth, fiscal deficit do not differ significantly from the region, and the pace of external rebalancing is the fastest among Central and Eastern European countries,” according to the report.
Source: PKO BP
- Everything
- News (178)
- Events (116)
- Get Support (80)
-
AGRECOL SPÓŁKA Z OGRANICZONĄ ODPOWIEDZIALNOŚCIĄ
Agrecol Sp. z .o. o. is the biggest Polish manufacturer and supplier of specialized fertilizers, plant protection/care products, and biocides for hobbyist customers. AGRECOL offers the highest quality products and continues to expand its assortment, adjusting it to the modern needs of consumers while maintaining its leadership position in the industry. Thanks to many years of cooperation with customers and gained experience. it results in a very good knowledge of the horticultural market.
ArticleThe Polish-Chinese Economic Forum
The event was an important element of the visit of the President Andrzej Duda to China
OFF-SITE SPÓŁKA Z OGRANICZONĄ ODPOWIEDZIALNOŚCIĄ
Business servicesShow allOff-site is a professional link building agency. We promote companies through content marketing. We create content, plan campaigns, deal with the complex process of acquiring links to the site which translates into SEO results.
METALOWIEC SPÓŁKA Z OGRANICZONĄ ODPOWIEDZIALNOŚCIĄ
The company Metalowiec Ltd was founded in 1976 and is a leading manufacturer of medical furniture and medical equipment. We deliver our products to hospitals and other medical facilities both in our country and abroad. The main groups of products manufactured by us are: hospital and rehabilitation beds, bedside cabinets, patient trolleys, telescopic hangers, medical screens, rail system and other equipment. We have quality management system ISO 9001 certified by German TUV HESSEN.
-
Event
The II Polish-German Economic Forum
The Forum’s purpose is to establish and deepen cooperation between the representatives of German and…
EventPAIH Business Forum 2024
PAIH Business Forum is an event organized for the SME sector and its partners – representatives of r…
-
Institution
National Support Centre for Agriculture
The National Centre for Agricultural Support conducts promotional and informational activities aimed…
InstitutionPolish-Romanian Bilateral Chamber of Commerce and Industry (PRBCC)
The Polish-Romanian Bilateral Chamber of Commerce and Industry is an independent organization that a…
The Export Promotion Portal uses cookies to make it easier for users to use the website and for statistical purposes. If you do not block these files, you agree to their use and saving in the memory of your computer or other device. Remember that you can change your browser settings to block the storage of cookies. More information can be found in Privacy Policy and Terms and conditions.