Analytics, Economics, EU – Baltic States, Financial Services, GDP

The best performances are expected from Lithuania, Poland (3.2%), Slovakia (3.1%) and Estonia (3%). Latvia is projected to rank fifth with GDP growth of 2.9%, writes LETA/ELTA.

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," she said.

According to the World Bank, Poland's GDP will increase by 2.9% in 2012, the highest in the region. In Latvia and Lithuania, heavily affected by the economic crisis, GDP will rise by 2.3%. The World Bank forecasts 1.5% growth for the EU11 this year.