The Polish economy is heavily dependent on what is happening beyond our western border. Germany is currently undergoing a recession – this year’s GDP will be minus 0.3% year on year. This is probably the worst possible scenario when it comes to the economy of our neighbors.
“This affects our economy through trade. Our main trading partner is the German economy. This is the market that accepts most of our goods,” said Mariusz Zielonka, economic expert of the Lewiatan Confederation, to eNewsroom.pl. “As a result, Poland will begin to export less because Germany will not need as many goods or half-finished products. This means a negative trade balance for our country. Foreign trade will drag our economic development and Poland’s GDP down. This impact is already included in the predictions – it was already visible in the middle of last year that the German economy is slowing down. The only unknown was the scale of this slowdown. Predictions included in the budget law, for instance, say that our economic growth will be around 3%. What we predict in the Lewiatan Confederation, that it will be about 2.8%, already takes into account the impact of reduced exports to Germany” Zielonka points out.
