Reforms add 1% growth to aspiring EU members

Further reforms and liberalisation in Central European countries joining the EU is expected to add 1% per year to their economic growth rates. Of the 10 Central and Eastern European countries set to join the EU, Hungary, the Czech republic and Poland have already affirmed their commitment by voting decisively in favour of accession. The first wave of new members are scheduled to join the EU in 2004, enter the Exchange Rate Mechanism in 2006 and adopt the euro between 2007 and 2008. Klaus Bockstaller, fund manager at Baring Asset Management, says these countries will enjoy accelerated g...