Ion Tiriac: 2014, better than 2013, but crisis is not over yet

Businessman Ion Tiriac estimates the coming year will be better than 2013, although spectacular growth is unlikely, given that the world crisis is not over yet. “We shouldn’t expect 6,7,8,9, or 10 per cent, like before. We have to make do with the possibilities at hand. Unfortunately, our export rate is rather low compared to the Czech Republic, Slovakia, and all the others, particularly where the car industry is concerned,” the former tennis man said on air at ‘Dupa 20 de ani’ (Twenty Years Later), a TV show broadcast yesterday by ProTV. When asked where he deposits his money, Tiriac, owner of a multiple branch business group, replied 2013 was a “rather bad” year for him. After the moderator said money can be deposited in banks in Romania and asked him whether he trusts the 3 or 4 per cent rollover, Tiriac said, “I trust it, but I don’t want 3 per cent. In my opinion, a respectable portfolio should bring you a 5 per cent win.”
When asked about the outlook of the leu/euro exchange rate in 2014, the businessman characterized it as difficult, underlining he cannot understand why the national currency is “so strong.” On Friday, BNR announced a RON/EUR 4.4754 exchange rate. In January, the average rate was RON/EUR 4.3793 compared to RON/EUR 4.4650 in 2012.
In addition, Tiriac emphasized the importance investments in agriculture and energy should hold in the future, also stating he would be willing to purchase up to 10,000 hectares of farmland, but the range of opportunities is reduced. Commenting on Ioana Basescu’s loan granted by CEC, Tiriac said he would approve a loan to an applicant in the blink of an eye, as long as the applicant provided information related to wage, assets, and securities, and he added that name can also be a brand in itself.
On the other hand, when asked if he would invest in gold, Tiriac replied he had done so in the past and did not sell even when prices went up, concluding he still does not intend to sell.

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