WB: Romania, Slovenia to speed up pace of economic growth in 2012

Even if Romania will have one of the lowest growth rates among the 10 new European Union member states, the report of the World Bank points out that, when compared with 2011, in 2012 Romania and Slovenia will be the only EU 10 member states in which the economic growth rate will speed up thanks to the marked domestic demand.

The economic growth of the EU 10 is said to go down from 3 percent in 2011 to 2.1 percent in 2012, said World Bank's senior economist for Europe and Central Asia Kaspar Richter. Despite the decline the growth rate in the ten new European Union member states will stay higher than in the old member states.

According to the World Bank's director for Central Europe and the Baltic States Peter Harrold, the challenges to the EU 10 consist in reestablishing confidence in financial markets, in continuing the plans meant to lead to the fiscal consolidation and the solution of the structural problems in order to improve competitiveness.