Poland’s industrial production fell. It’s just a short-term trend, say experts

Coal production in Poland fell by 25.9 percent in the interim. The production of electrical appliances fell even more, namely by 29.1 percent. The decline in Polish industrial production was even you, not experts estimated, according to the Bloomberg agency.

The sharp decline of Polish industry over the past year has raised doubts about the overall economic performance. There, the central bank and the Ministry of Finance are now talking about the fact that the Polish gross domestic product will grow by 3 percent in 2024 between years. he is an expert, but his worries are minor and he insists that he has enough time left to go before the end of the year.

There are many reasons why significant economic benefits can still be expected in the case of Poland. Domestic demand will grow and the economic situation in neighboring Germany is gradually improving, according to economist Grzegorz Maliszewski. He added that the unprecedented decline in industrial production is only a short-term disruption of the growing trend.

Analyst Monika Kurtekova notes, however, that the Polish economy will not be able to meet the original estimates for the first quarter of the year. Instead of economic growth of more than 2 percent, it is now said that the economy will grow by only 1 and 1.5 percent. However, the results for the entire year 2024 are at risk.

to the central bank

Polish economic performance is known to be influenced by the Polish central bank. The latter will soon decide on the next fall of the free money policy, and therefore on the possible dream annual rates, which could at least start the Polish economy. Polish analysts, however, do not expect the rates to change at the next meeting of the Polish central bank in years. Core inflation in Poland is high and nominal wages are growing at a solid pace. Inflan podhob is therefore relatively well-known in Poland.

Despite the noticeable decline in industrial production, the Polish government has indicated that it wants to continue in full, which speaks of a full shift away from coal. In the coming weeks, it is expected that the Polish government cabinet will set a final date when the combustion of coal for the needs of electricity production will be stopped.

Coal has long dominated Poland’s energy mix. In recent months, however, the representation of renewable sources, especially solar and internal energy, has been growing quite significantly. In 2023, renewable sources will account for 26 percent of electricity production in Poland, and this year this figure should increase, Bloomberg concluded.