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Poland’s economy did well in 2022 against global downward trends

February 17, 2023

Poland’s GDP grew by 4.9 % in 2022, the Central Statistical Office (GUS) reported in late January.

In light of the situation, growth declined relatively little compared to the 6.8 % expansion in the post-pandemic rebound in 2021. Economic performance in 2022 was very mixed, and analysts said that the negative trends that appeared in the second half of the year will continue in 2023. It was observed that domestic demand and domestic consumption weakened in 2022.

All in all, “Poland’s economy seems to be holding up much better than in Hungary and Czechia, which we think suffered recessions over the second half of last year,” said Capital Economics.

Optimistic data is also coming from venture capital (VC) investments in Poland. VC value remained unchanged year-on-year in 2022.

“In 2022, the Polish VC market slowed down but maintained a value of transactions that was close to the previous year,” the state-owned VC vehicle PFR Ventures and private firm Inovo VC said. “It is still a good signal in the context of global and regional downward trends” the two companies added.

435 Polish companies raised a total of PLN 3.6 billion (EUR 0.76 billion) in financing from 224 funds in 2022 according to the companies’ report.

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