WB: Romanian Econ Activity Bound To Remain Negative In 2010

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In its summer 2010 Global Economic Prospects, the World Bank estimated Romania’s gross domestic product will contract 0.5% this year, from a sharp decline of 7.1% in 2009.

Latvia’s GDP is seen falling 3.5% in 2010, from a contraction of over 18% a year earlier.

In 2011, Romanian economy is expected to grow 3.6%, followed by a 4.4% increase in 2012. The current account deficit is predicted at 5% of GDP for each of the three analyzed years.

The World Bank estimates an economic growth of 4.1% in Europe and Central Asia this year, after a decline of 5.3% in 2009, supported by strong increases in the top-two economies, Russia and Turkey.

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„The rebound in activity in the next four largest economies is weak (Poland, Kazakhstan and Ukraine) or remains negative (Romania),” the survey noted.