Central and Eastern European countries will have the best economic growth in all of Europe this year, according to Deloitte’s latest Global Economic Outlook report.

The business consultancy underscored, however, that the various CEE economies are at different levels of growth and different stages of moving out of the slowdown. Poland, with its 1.7 percent GDP growth for 2009, contrasts starkly with the Baltic states, whose GDPs shrunk by an average of 16 percent.

The report pointed out that despite these inequalities, all of the countries in the region have shown “unexpected flexibility and social and political maturity” which has translated into investors showing interest in the region again.

“We have strongly believed that despite the recession, societies and governments of CEE countries will demonstrate maturity and the EU funds will effectively encourage them to follow reform path. This will continue throughout 2010,” said Rafał Antczak, vice president of Deloitte Business Consulting.

According to the report, euro zone enlargement will not halt, despite the economic difficulties of countries in the PIIGS group (Portugal, Ireland, Italy, Greece, Spain).
The report says it is likely that Estonia will join the euro zone in 2011 and that Bulgaria will enter the ERM2 mechanism this year.

Deloitte expects the European Commission’s Convergence Report, planned for publication in May, to include a significant amount of positive information for the region.