Vienna Institute sees 4.5% growth

Romania and Bulgaria will see Gross Domestic Product growth of 4% to 5% in 2003 and 2004, as forecast by the Vienna Institute for International Economic Studies (WIIW), quoted by France Presse. The institute says the Central European states have managed to keep the international economic slowdown at bay, while their economic growth has picked up speed since the beginning of the year. “Considering the very frail international climate, the Central European countries have performed surprisingly well in the last few months,” WIIW’s director Peter Havlik said. He pointed out the countries in question were registering GDP and productivity growth, along with an inflationary rate decline and export progress, but highlighted the persistence of a high unemployment rate in the region. ZF