Poland's GDP to fall by 0.5 pc in 2020 - commerce chamber

Poland's economy will contract by 0.5 percent in 2020 amid the coronavirus epidemic before rebounding to 5 percent growth in 2021, the Polish Chamber of Commerce (KIG) has forecast in its latest report. The KIG says that the first quarter data will already show the first signs of the impact of the virus, but the second and third quarters are likely to see an annual decline of GDP, whereas the last three months of the year should show signs of improvement. By the autumn, Poland's employment may go down by 400,000 people and the peak of unemployment, at 7.5 percent, can be expected in February 2021, according to the KIG.