Bulgarian and Romanian dynamism to contribute to economic growth
Bulgaria and Romania's accession to the European Union (EU) at the start of the year was beneficial not just to the economies of those states, but to the European economy as a whole, the independent journal Economic Outlook has said.
The two new states do not have large economies and have not significantly affected EU structures, but the report asserts that the enlargement has increased the opportunities for investment and trade, the BTA news agency reports.
Gross domestic product (GDP) growth forecasts for 2007 suggest Romania and Bulgaria will make significant progress toward the EU average; Romania is predicted to grow at 4% while Bulgarian GDP should increase by 6.5%.
The dynamism of the new economies is also expected to have a positive impact on the wider EU economy, with growth predictions revised upwards to 2.2% for the euro-zone and 2.6% for the whole EU bloc.
The increased optimism comes off the back of a strong 4th quarter of 2006, which contributed to the strongest year of EU growth of the decade at 3%.
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