EnglishThe Romanian Association of Fund Managers (AAF) considers that, given the current economic climate, there is a need for reducing consumption and stimulating saving and investing.
They claim that "even though these last few years consumption has seen substantial growth, even by anticipating further revenues based on lending, now the situation is about to undergo a radical change", and "the nearby future is set to bring about a quick change of perception, because most of the factors which have led to an sometimes exuberant consumption are going to disappear".
AAF also warns that in 2009, wage increase will slow down, and in certain cases may not occur at all, access to bank loans will become difficult, and the labor market will no longer be brimming with employment offers. As a result, "people will consume less, because the factors that have supported consumption are fading, and optimism is turning into realism".
For people looking to save, fund managers recommend turning to bank deposits as their real (inflation adjusted) interest rate, is high.
Also, investors can turn to money market funds and bond mutual funds as they are usually safe from the evolution of the stock market and their yields surpass those of deposits or savings accounts, and their risk factor is low.
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