GDP in 2022 Economists lower their forecasts

Some banks decided to lower their economic growth forecasts for 2022. The reasons for the cuts are mainly high inflation and an increase in interest rates, according to economists.

Inflation data, which in recent months has been regularly higher than expected, made the economists’ forecasts for 2022 worsen. It will result in lower consumption than previously expected. An additional factor is the already implemented interest rate hikes and expectations that the NBP interest rate will continue to grow at a fast pace – according to economists’ forecasts.

– We have lowered our GDP growth forecast for 2022 from 5 percent. up to 4 percent We have high inflation, which will lower consumption, and in addition, higher interest rates will also lower the consumption growth rate, due to higher costs of loan servicing – said Bank Pekao economist Adam Antoniak.

About Eric Wilson

The variety offered by video games never ceases to amaze him. He loves OutRun's drifting as well as the contemplative walks of Dear Esther. Immersing himself in other worlds is an incomparable feeling for him: he understood it by playing for the first time in Shenmue.

Check Also

ZUS reminds about an important change for retirees. You may lose your benefit

“You can earn extra money for pensions, but you have to remember that there are …

Leave a Reply

Your email address will not be published. Required fields are marked *