Dan Şucu, Mobexpert: With interests half the current level, consumer spending would bounce back

Dan Şucu, the owner of Mobexpert and one of the most fervent critics of domestic banks' policy, is again saying consumer spending would pick up provided that loan interests were cut to half.

Şucu's comments come as he disclosed the results of a scheme of sales in interest-free instalments that he launched in September and about which he says it worked as he had expected, but that taking it further in 2010 is not certain.
Thus, sales in instalments came to weigh around 10% of the total for stores and there are over 500 applications submitted in September-November period. According to the data included in the promotion flyer, Mobexpert works with BRD Finance for this product.
"More than 500 clients have funded the acquisition of furniture through this system, with a more than high average value in a period when they say there is no valid demand. We're interested in making this system permanent, but we can see that for the time being our partners are not. We are feeling a push to raise funding costs, and not lower than as the NBR says, which is worrying us," stated Şucu.
According to ZF calculations, sales through this system are likely to have hit more than 1m euros since launched until present.