Dragos Neacsu, the chairman of investment manager Erste AssetManager, which manages over 340 million euros in assets, bets on adecline of the benchmark rate to 6% and on the appreciation of thedomestic currency in 2010.
"I believe in the domestic currency. The RON will follow apositive trend next year, the exchange rate will continue toappreciate to 4.1-4.2 RON for one euro and may at times go below 4RON. The benchmark rate may go down to 6%, as well, given theimprovement of the economic situation," he said.
Erste Asset Management, which is managing assets worth more than300 million euros from over 57,000 investors, is the biggest mutualfund manager, accounting for 47% of the mutual fund market. Thecompany manages a portfolio of seven mutual funds, the biggest ofwhich is BCR Monetar with 180 million euros in net assets.
In the opinion of Neacsu, the rebound of the economy will happenin 2010 but will largely depend on the way the political classaddresses the issue of the reduction of the budget-paid employees'salaries.
"The private sector has been bearing the burden of the crisis,with cost cuts as proof to that. Cutting the Gordian knot - thebudget-paid salary expenses, is, however, a maturity test for thegovernment and the political class, " he concluded.
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