The Polish economy recovered swiftly in 2021, with growth of 5.9% following a contraction of 2.2% in 2020. The economy of Poland contracted less and rebounded stronger than expected, showing the effectiveness of the government’s actions during the Covid-19 pandemic.
Recovery was also seen in Polish banks, with the profitability of its lenders rising as the central bank began hiking rates. Rising rates have lifted the revenues of Poland’s banks quickly, due to loan rates being benchmarked to forward-looking interbank interest rates, such as Wibor.
