The best performances are expected from Lithuania, Poland (3,2 percent), Slovakia (3,1 percent) and Estonia (3 percent). Latvia is projected to rank fifth with GDP growth of 2,9 percent.
The World Bank is expecting economic stagnation or a downturn in most of the 11 countries of Central Europe. GDP will shrink by 0,4 – 1,2 percent in Hungary, Slovenia, and Croatia, which aims to become an EU member.
Managing Director of “Invest Lithuania” Milda Darguzaite emphasizes the strong impact of successful fiscal reforms on growth. “Lithuania’s GDP growth is driven primarily by increasing domestic demand. Growing exports and investment, mainly into real estate, machinery and other equipment, is another accelerator of economic growth,” Darguzaite said.
According to the World Bank, Poland’s GDP will increase by 2,9 percent in 2012, the highest in the region. In Latvia and Lithuania, heavily affected by the economic crisis, GDP will rise by 2,3 percent. The World Bank forecasts 1,5 percent growth for the EU11 this year.