When many countries in Europe face strained economic and political changes, situation in Poland looks comparatively much better. The economic and business outlook for years 2019 and 2020 is very promising.
Economic Forecasts for Poland
As the European Commission states the economic forecast for Poland looks very promising. Last year Poland’s economy grew by 5.1% and GDP growth in the first quarter of 2019 remained strong. As the report (Summer 2019 Economic Forecast – Poland) confirms “private consumption is expected to strengthen in the second half of 2019 and in early 2020, as new fiscal transfers and tax cuts increase household disposable income. Together with strong wage growth and favourable labour market trends, this is expected to support consumer confidence. Investment growth continues to be supported by EU funds, and is set to remain strong in 2019 (…) Overall, real GDP growth is expected to reach 4.4% in 2019 and 3.6% in 2020”.
Poland’s Pig Sector Forecast
Polish Institute of Agricultural Economics and Food Economy states that since the beginning of the second quarter of 2019, there has been an upward trend in pig prices.
The increase in pig prices is a consequence of two factors:
- a decrease in the number of pigs and slaughtering of pigs in the EU and increased demand for pork on the world market.
- the appearance in China and other Asian countries ASF virus. Among the EU-28 countries, the largest exporters of pork to third countries were: Spain, Germany, Denmark, the Netherlands and Poland.