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The GDP growth rate in the context of the World Development Indicators (WDI) refers to the annual percentage increase or decrease in a country's Gross Domestic Product (GDP), adjusted for inflation. The WDI is a comprehensive database maintained by the World Bank that tracks various economic, social, and environmental development indicators across the globe.
Key Takeaways
Poland GDP Growth (1991-2023)
Poland’s economic transition from a centrally-planned to a market economy began in the early 1990s. After an initial contraction in 1991 of -7.0%, economic reforms spurred positive growth, peaking at 7.1% in 1995 and 2007. Poland was one of the few countries in Europe to avoid recession during the 2009 financial crisis, maintaining 2.8% growth. The COVID-19 pandemic caused a temporary dip of -2.0% in 2020, but the economy rebounded strongly, recording 6.9% growth in 2021. By 2023, growth decelerated to 0.2% amid inflation and slowing global demand.
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