Poland’s economy grew by 0.2% last year, following growth of 5.6% in 2022, according to the latest findings by the country’s statistics office published on Thursday.

This is an upward revision from its prior forecast for 2022 by 0.3 percentage points, according to a report by state news agency PAP.

Indeed, back in October, the Statistics Poland (GUS) agency reported that Poland’s economy grew 5.3% in 2022.

During a preliminary estimate at the end of January, Statistics Poland said the country’s GDP grew by 0.2% last year.

The statistics agency has reconfirmed its estimate for Polish economic growth for the previous year, as reported by the PAP news agency.

Last month, the Polish central bank updated its GDP growth forecasts for the country, stating it now forecasts the economy to grow 3.5% in 2024, followed by 4.2% growth in 2025 and 3.3% in 2026.

During February, the European Commission maintained its forecast for Poland’s economic growth for this year the same at 2.7%.

The EU executive has also forecast that the Polish economy will grow by 3.5% next year, keeping its projection consistent with the one made in November.

At the end of January, Poland’s president Andrzej Duda signed the country’s budget into law for 2024, which forecasts the economy will grow 3% this year.

At the time, it was reported that the budget deficit is set to be no more than PLN 184 billion ($46.1 billion) in 2024, and the target for the general government deficit is 5.1% of GDP.

In addition, government revenue is forecast at PLN 682 billion this year, with spending set at PLN 866 billion, according to a report by the PAP news agency.