Deloitte: Poland enters the phase of economic expansion

The divergence of economic moods in Poland...

Two Years On: War in Ukraine and Its Global Impact

On February 24, 2022, a full-scale Russian...

The year 2024 will be better for consumers and entrepreneurs

ECONOMYThe year 2024 will be better for consumers and entrepreneurs

The shopping pattern of Poles in 2023 was limited to basic necessities – medications, clothing, footwear, and food. Nowadays, this pattern is slowly shifting towards cars and RTV equipment. In 2024, Poles should live better – because salaries will be growing at a double-digit rate, i.e., twice as fast as the forecasted inflation, which should not exceed an average of 6%. It’s worth noting that last year inflation amounted to as much as 11.4%. Therefore, it seems that 2024 will be better for the Polish family and for the Polish entrepreneur even much better. There is hope for fewer legal changes and a return to social dialogue.

“Assuming that 2024 does not bring us major events and, consequently, macroeconomic shocks – everything indicates that for the average Polish family, the average Polish citizen, this year will be better than the previous one.” says Mariusz Zielonka, an economic expert from the Confederation Lewiatan, to the service. “Above all, we can expect that price increases will slow down. Of course, this does not mean that prices will fall. Prices will still be high, they will still rise – just not so fast. At the same time in 2024, we have a double increase in the minimum wage again. We have inflation, and on top of that a minimum wage that will grow twice. This is a ready recipe for wage pressure. On the one hand, this is positive for citizens – if wage growth exceeds price growth, we have more left in our pockets and we can afford more in the end. This changes our spending patterns. We are moving from basic necessities and starting to think about less essential purchases. But on the other hand, the government needs to control inflationary pressure” analyzes Zielonka.

Check out our other content
Related Articles
The Latest Articles