WB Cuts Romania Growth Outlook To 1.5% In 2012
The World Bank has revised downward its forecast on Romanian economic growth to 1.5% in 2012 from 3.7% previously, citing deteriorating external outlook and the country’s increased vulnerability to the euro zone crisis.
The Washington-based institution also cut its estimate on the 2013 growth to 3%, from 4% initially, according to a report on global economic prospects released Tuesday.
Romania’s current account deficit is poised to widen slightly to 4.7% of the gross domestic product in 2012, from a gap of 4.5% of GDP estimated in the previous year. For 2013, the World Bank estimates a deficit of 5.3% of GDP.
The World Bank forecasts an economic growth of 3.2% in the Central and Eastern Europe region in 2012, down from 4.2% previously estimated.
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