EU's ex–communist newcomers face slower growth in 2007: World Bank

0 Comments | AFP, January, 2007

WARSAW (AFP) — The European Union's new ex-communist member states continued to enjoy an economic boom in 2006, but are likely to face a slowdown this year, the World Bank said in a study.

In its "EU 8 2" report, which provides an economic snapshot of 10 newcomers to the 27-member EU, the World Bank said Thursday that growth strengthened across the region last year, particularly in Poland, Slovakia and Romania.

The three Baltic States, Slovenia and Bulgaria also grew at an even stronger rate than in 2005.

The situation remained rosy despite currency appreciation against the euro, and especially the dollar, in several countries, as well as moderate growth in the eurozone, which is the major market for the new EU members.

However, said the World Bank,...