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WB: Romania's economic growth - 1.6 pc in 2011, 3.7 pc in 2012


The World Bank (WB) slightly improved its estimate on Romania's economic growth this year to 1.6 percent but revised downwards to 3.7 percent its prognosis for 2012, the Global Economic Prospects report shows.

In April the World Bank was anticipating an economic growth of 1.5 percent in 2011 and 4.4 percent in 2012. The World Bank expects the Romanian economy to grow by 4 percent in 2013. The International Monetary Fund (IMF) forecasts an economic growth of 1.5 percent this year, similar to the Government's estimate, and of 3.75 - 4 percent in 2012. At the same time, the World Bank estimates that Romania's current account deficit will grow from 5.1 percent this year to 5.4 percent in 2011 and 5.7 percent in 2013. Economic growth in Central and Eastern Europe will stand at 4.5 percent this year but will drop slightly to 4.2 percent next year. In 2013 regional economies will grow by 4.3 percent. Central and Eastern Europe includes Albania, Bosnia and Herzegovina, Bulgaria, Georgia, Kosovo, Lithuania, Macedonia, Montenegro, Romania and Serbia.

The World Bank estimates that the world economy will grow by 3.2 percent this year and by 3.6 percent in 2012 and 2013. According to the World Bank, the economic growth of EU member states whose economies are still developing (Bulgaria, Romania and Lithuania) will accelerate in the following years, backed by the fairly diversified nature of these countries' economies, the EU and IMF support programs and the Euro Zone's recovery. Although these countries are still unaffected by fiscal sustainability fears that are seen in wealthy European countries, a negative impact through the financial sector remains a possibility. According to the World Bank data, Lithuania and Romania, exporters of manufactured goods towards the EU, have reported some of the highest growths in the region (over 40 percent in Q4 of last year).


Published on 08.06.2011




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