BNR Exchange Rates
21.05.2012- 1 EUR
4.4408 RON - 1 USD 3.4767 RON
- 1 CHF 3.6976 RON
- 1 GBP 5.5015 RON
- 1 gr. aur177.7840 RON
Tiriac maintains his conservative predictions for Romania's reboundUpdated: 09-09-2009 |
Ion Tiriac, one of the richest Romanians, with business in real estate, auto and financial services, does not expect Romania's economy to bounce back from the crisis than the end of 2010, after a very difficult year for the population and companies, with medium-sized companies most sheltered from bankruptcy, as they are less dependent on bank financing.
"The crisis has affected very large companies and small businesses. Medium-sized ones, who enjoyed financial stability, will survive. It will be difficult, but they will survive, because they are not aggressively attached to banks," according to a declaration for Business Standard yesterday by Tiriac. "The Romanian economy will most likely bounce back at the end of next year," said the businessman. As such, he is proving to be extremely consistent in his prognoses regarding Romania's economy, in spite of the anti-crisis measures announced by the government or the optimistic estimates by politicians. In an interview in mid-2009, Tiriac warned that an economic comeback could occur at the beginning of 2011, provided the country is not shaken up by general strikes and protests. The billionaire was in Craiova yesterday for the launching of the first car produced by Ford in Romania, with the intention of acquiring the Transit Connect with the number 001, but the organizers decided to donate this.
Tiriac explained clearly succinctly in an interview for Business Standard that Romanians should not expect prices to drop in 2010, but rather can expect these to rise. He did not hesitate to include real estate among the economic sectors with the biggest problems, although all the apartments in the luxury complex developed by Tiriac Imobiliare in Bucharest have been sold.
Latest News:
- Millennium Bank increases uncollateralized cash loans maximum amount
- Customers Benefit from Satisfaction Guarantee with All Consumer Banking Products from Citibank
- Call for Entries for Deloitte Central Europe Technology Fast 50 2012
- Millennium Bank offers term deposits with monthly interest payment
- Deloitte European Salary Survey: Sweden, Belgium and the Netherlands, at the top of the pyramid of the tax systems
- Citibank Romania Announces New Partnerships Extending its ATM and Repayment Network by 500 Locations Countrywide
- NBR delivers a silver coin dedicated to Sergiu Celibidache – 100 years since his birth.
- MILLENNIUM BCP NAMED BEST BANK IN PORTUGAL FOR SECOND STRAIGHT YEAR BY EMEA FINANCE
- PwC Romania awarded by the Babes-Bolyai University
- COSMOTE Romania launches a new advertising campaign promoting its Business Portfolio
- On April, National Bank of Romania's foreign exchange reserves stood at EUR 34,336 million
- BCR achieves solid quarterly operating result despite economic slowdown
- The National Bank keeps unchanged the monetary rate
- Tomas Spurny begins mandate as BCR CEO
- PIC reorganization plan approved by creditors and confirmed by the syndic judge
Most Popular News
- Three billion euros to be invested in energy private-public partnerships
- Romanian state plans to keep 8 pct of Petrom, at least
- IMF mission extends stay in Romania till May 9
- IMF, FinMin Vladescu discuss Government revenues collection
- Videanu admits that he is in conflict of interests in connection to Marmosim
- Greece gets 110 billion euros, biggest bailout in history
- BNR governor Mugur Isarescu: Situation is quite complicated
- Romanian-German meeting on fresh cooperation opportunities
- Gov't to earmark 6.4pc of GDP for investment
- FinMin Vladescu: Cutting 25pc off public wages pool will not generate needed savings
