Skip to Main Navigation

Overview

COUNTRY CONTEXT

Poland2023
Population, million37.6
GDP, current $ billion806.5
GDP per capita, current $21,428
Life Expectancy at Birth, years 77.3*

*Data for 2022

The Polish economy has weathered global and regional external shocks thanks to a well-diversified economic structure, integration into regional value chains, a commitment to macroeconomic stability, a robust financial sector, and tight labor markets that have led to notable wage increases and consumer spending. However, the shocks have weakened the fiscal stance, while the global energy crisis led to a sharp increase in inflation which reduced purchasing power, weighed down on growth, and increased poverty in 2023.

Poland's economic strategy is at a critical turning point: it requires boosting productivity through innovation, rapidly decarbonizing the energy sector to retain economic competitiveness and re- and upskilling the labor force in the backdrop of a rapidly ageing population. Restoring fiscal buffers while supporting investments in healthcare, defense, and renewable energy will require balancing efficient spending and tax policy reforms. Promoting the efficiency of spending on social benefits and promoting adaptive social protection remains a priority for advancing inclusion.

Medium-term economic prospects hinge on reaping the benefits of technological and green transitions, advancing social mobility and inclusion, and addressing labor shortages. Meeting the technological transformation and EU decarbonization objectives requires investment and planning, including ensuring a just transition that supports vulnerable groups while containing regional disparities.

Last Updated: Oct 23, 2024

LENDING

Poland: Commitments by Fiscal Year (in millions of dollars)*

*Amounts include IBRD and IDA commitments

STAY CONNECTED

Image
PHOTO GALLERY
More Photos

In Depth

Additional Resources

Country Office Contacts

Warsaw, Poland
Warsaw Financial Center
53 Emilii Plater Street
00-113 Warsaw, Poland
Tel: +48-22-520-80-00
Media Contact
Krzysztof Bastian