WB: Romania Economy To See Solid Growth Improvement In 2011

04.19.2011 By Florentina Dragu

Romanian economy will grow at one of the fastest paces in Eastern Europe in 2011, but recovery remains sluggish, the World Bank (WB) said in a report Tuesday.

Romanian economy will grow at one of the fastest paces in Eastern Europe in 2011, but recovery remains sluggish, the World Bank (WB) said in a report Tuesday.

In its latest quarterly economic report, the WB said Romania's gross domestic product is estimated to increase 1.5% in 2011, from a contraction of 1.3% in the previous year.

Lithuania is likely to post the most robust economic growth in the region this year, of 4.3%, followed by Slovakia (+4.1%) and Poland (+4%).

"The pace of the recovery differs across the EU10.

Romania and Bulgaria, where the crisis hit later than elsewhere, are set to see the biggest improvements in growth in 2011, aside from Latvia and Lithuania," the WB said in its quarterly economic report.

In 2012, the international institution envisages a growth of 4.4% in Romania, the fastest pace in the region.

For the entire EU10 region, the lender estimates an economic growth of 3.1% in 2011 and of 3.8% in 2012.

The EU10 includes Bulgaria, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia.