The Polish cement market was only moderately affected by COVID-19 in 2020, but as the pandemic played out, the impact was felt most deeply in the 1Q21. An expected rebound in the latter half of 2021 is unlikely to make up for lost ground and therefore cement demand growth is forecast to pause before gaining momentum again in 2022. By Bozena Sroda, Polish Cement Association, Poland.
Starting from the 2Q20, the economic situation in Poland, as in other countries, was dominated by COVID-19. Multiple ‘freezing’ and ‘thawing’ of significant parts of economic activity not only determined the individual microeconomic decisions of consumers, entrepreneurs and enterprises but also had a significant impact on macroeconomics. Recent estimates by the Institute of Economic Forecasts and Analyses (IPAG) for the 1Q21 see GDP declining by 2.3 per cent YoY, marking the fourth consecutive quarter of negative economic growth.
