ING
May 14, 2026
Poland's Growth Slows but Remains Resilient Amid Weak Eurozone Backdrop
Market ReportMacro Economic IndicatorsRates Govt BondsIndustrialsEnergy
Poland's GDP growth moderated to 3.4% YoY in early 2026, supported by strong public investment despite a weak Eurozone and rising energy risks. ING expects interest rates to remain stable through year-end.
Key Takeaways
- 1.Poland's GDP growth slowed to 3.4% YoY in Q1 2026 from 4.1% in Q4 2025, yet remains solid despite external headwinds.
- 2.Public investment, specifically the National Recovery Plan (NRP), is shielding the economy from external shocks and supporting credit revival.
- 3.Rising fuel prices and potential inflation spikes are the primary risks to consumer spending and real income growth in 2026.
Table of Contents
- Economic growth momentum slowed in early 2026
- Author
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Authors
Rafal BeneckiAdam Antoniak
Themes
Resilience through Public InvestmentEnergy-Driven Inflation RisksMonetary Policy Inertia
Regions
EuropePoland