Romania, Hungary GDP Seen Higher Unlike Emergent Mkts -World Bk

The report includes data of the countries that acceded to the EU in 2004 and 2007, except for Malta and Cyprus.

The economic growth would slow down in most of the countries analyzed in the report, mainly in Estonia and Latvia.

"The economic growth should face minimum changes in Bulgaria and Poland in 2008, and should increase in Romania and Hungary," according to "EU 10" economic report.
Romania’s GDP grew 8.2% in the first three months of the year, well above the 6% growth reported in the same period a year earlier.

The country’s gross domestic product might reach 7.5% in 2008, from 6% a year earlier. Economy and Finance Minister Varujan Vosganian said the economic growth is seen nearing 8% in the second quarter.

World Bank analysts forecast modest fiscal strengthening in 2008, in most of the analyzed countries. They see minor changes for Bulgaria, Czech Republic, and Romania.

The current account deficit widened in Romania and Lithuania in 2008, while Hungary and Slovakia faced an improvement of their current account deficit.

"The current account deficit in the ten new EU member states is seen different for 2008 and 2009 (…) Poland and Romania might see a higher current account deficit, on a strong economic growth, Romania exceeding its potential," the report also said.

Romania’s current account deficit widened 7.5% on the year in January-April to EUR4.842 billion, from EUR4.504 billion in the year-earlier period, on higher trade deficit.