However, the international lender cut its estimate on the 2012 growth to 3.7%, from 4.4% initially.

The current account deficit is poised to widen to 5.1% in 2011, from a gap of 4.2% in the previous year. For 2012, the World Bank estimates a deficit of 5.4%.

The World Bank forecasts an economic growth of 4.5% in the Central and Eastern Europe region in 2011, followed by a slower increase of 4.2% next year.

“Growth among the European Union’s members in developing Europe (Bulgaria, Lithuania and Romania) is projected to accelerate to around 3.4% in 2011-2013, aided by the relatively diversified nature of these economies, significant EU and IMF support programs, and the recovery in the euro area,” the lender said in its report.