Poland's economic progress in recent decades has been remarkable, but the country needs reforms to sustain this growth, according to the International Monetary Fund (IMF).
Geoff Gottlieb, the IMF's senior regional representative for Central, Eastern, and Southeastern Europe, highlighted Poland's strong economic track record and relatively low public debt. The government's commitment to fiscal consolidation further enhances its fiscal credibility.
Poland has pledged to reduce its budget deficit below the European Union limit by 2028 and decrease its debt-to-GDP ratio by 2030. However, the IMF suggests that fiscal adjustments should be accelerated during periods of strong growth and high inflation to solidify credibility.
The IMF forecasts Poland's economy to grow by 3.5% in 2025, while Poland projects 3.9% growth, up from 3.1% expected in 2024.
IMF officials also identified challenges to medium-term growth, such as fewer opportunities for economic catch-up, an aging population, military expenditures, and climate investments. The IMF recommends reforms, including better-targeted social benefits and aligning taxes with other EU nations. It also advocates for adjusting the retirement age in line with life expectancy.