World Bank improves economic increase forecast for Romania this year

The World Bank has improved the estimation on Romania's economic growth for 2011 to 1.6 percent, from a previous estimation of 1.5 percent year-on-year growth. The estimated growth for 2012 however went down from a previous estimation of 4.4 percent, to 3.7 percent year-on-year. The WB expects the country to post an economic increase of 4 percent in 2013. At the same time, the financial institution forecasts Romania's current account deficit would widen from 5.1 percent this year, to 5.7 percent in 2013. The economic increase in the Central and Eastern Europe will be of 4.5 percent this year, but will slow down to 4.2 percent in 2012, according to the World Bank. editor@romania-insider.com (photo source: World Bank)