 |
|
|
|
|
|
|
|
|
|
| |
UniCredit Tiriac Bank: Romanians wealth to grow by 19 pc in next 2 years |
| |
HOME >> NEWS >> UniCredit Tiriac Bank: Romanians wealth to grow by 19 pc in next 2 years |
|
|
 Romania fares better than the Central and Eastern European average when it comes to wealth growth, a study authored by UniCredit Tiriac Bank and quoted by Rompres shows.
Thus, the Central and Eastern European wealth growth registers a level of 14 per cent per year during 2008-2009 while for Romania a wealth growth level of 19 per cent is forecast. The main factors that have led to the hike in financial assets this year consisted of the improving outlook in the Romanian labour market, reflected by the low unemployment rate (4.4 per cent annual average in 2007), the rapid wage hike in nominal terms (the wages registering a growth of 21 per cent per year according to the September 2007 data) and the remittances coming from the Romanian workers abroad, the latter growing by 24 per cent. However the news is not entirely good. The strong demand for mortgage and consumer loans will cause a drop in the net household wealth, a drop from a level of 11 per cent of GDP in 2006 to 10 per cent of GDP in 2007.
The net corrected wealth is expected to stabilize around the 13 per cent of GDP figure in 2007. The financial wealth per capita amounts to EUR 550 in Romania, Rozalia Pal, senior economist within UniCredit Tiriac Bank macroeconomic research department, stated.
In 2009, 73 per cent of the total population’s wealth will be represented by mutual funds, shares, cash and deposits. Insurances will have a 21 per cent share in 2009 according to the study authored by UniCredit Tiriac Bank. The population’s financial debt will register a 34 per cent hike by 2009 and the financial wealth will grow by 23 per cent. The population’s financial debt will reach EUR 24.7 bln in 2008 and EUR 29.3 bln in 2009, the current level being of EUR 19.1 bln.
Source: http://www.nineoclock.ro/ |
| |
|
|
|
International Corporate Governance
This issue explores how governance attributes are directly related to the substantial variation - across both countries and companies - in ownership, investment and valuation. |
|
|
|
|
|
|
|
|
|
|
|
|
|
