Investment by Poland’s large and medium-sized companies rose 13.7% year on year in real terms to PLN100.2bn (€23.3bn) in the first half of 2026, GUS said on August 24.

The data hints strongly that investment has become a major engine of Poland’s growth in 2026, helping explain why GDP growth accelerated to 3.8% y/y in the second quarter from 3.5% in the first. GUS has yet to publish the detailed structure of economic expansion in the second quarter.

Investment fell 1.2% y/y in the first half of 2025 and increased 3.2% in that year as a whole.

The acceleration in 2026 was concentrated in the second quarter, with corporate investment rising 18.7% y/y, up from 8.7% y/y in the opening quarter and the fastest rate since early 2019.

“We bet on investment. Today the effects are visible. We are unlocking capital, launching strategic projects and giving companies room to grow,” Finance and Economy Minister Andrzej Domański said in a post on X on August 24.

First-half spending on transport equipment jumped 30.6% y/y in real terms, while outlays on machinery and tools rose 10.9% y/y and investment in buildings and structures increased 8.9% y/y.

The data reflected both EU recovery-fund expenditure and a genuine revival in private investment, Bank Pekao analysts said.

The European Commission expects investment’s contribution to growth to increase in 2026 as EU-fund absorption peaks and domestically produced defence equipment accounts for more spending.