{"id":239252,"date":"2025-08-13T14:29:51","date_gmt":"2025-08-13T14:29:51","guid":{"rendered":"https:\/\/bm.dev.synology.me\/?p=239252"},"modified":"2025-08-13T14:29:51","modified_gmt":"2025-08-13T14:29:51","slug":"cum-ne-protejam-economiile-cand-inflatia-poate-ajunge-la-10-la-final-de-an-horia-gusta-aaf-actiunile-si-fondurile-de-actiuni-singurele-solutii-pe-un-orizont-mai-lung-de-timp-nu-exista-alternative","status":"publish","type":"post","link":"https:\/\/bm.dev.synology.me\/?p=239252","title":{"rendered":"Cum ne protej\u0103m economiile c\u00e2nd infla\u0163ia poate ajunge la 10% la final de an? Horia Gust\u0103, AAF: Ac\u0163iunile \u015fi fondurile de ac\u0163iuni, singurele solu\u0163ii pe un orizont mai lung de timp. Nu exist\u0103 alternative pe termen scurt"},"content":{"rendered":"<p>\nInfla\u0163ia din Rom\u00e2nia accelereaz\u0103 puternic, ating\u00e2nd \u00een iulie aproape 8% \u015fi fiind estimat\u0103 de BNR la 9,6%-9,7% \u00een septembrie, pe fondul major\u0103rii TVA \u015fi accizelor, \u00een timp ce unii economi\u015fti prognozeaz\u0103 valori \u00eentre 8% \u015fi 10% la final de an. Dob\u00e2nzile la depozite bancare \u015fi titlurile de stat nu mai protejeaz\u0103 economiile pe termen scurt, fiind recomandate \u00een acest sens companiile listate care pot transfera costurile c\u0103tre consumatorul final sau fondurile mutuale cu component\u0103 de ac\u0163iuni.<\/p>\n<p>\n\u201ePe termen mediu \u015fi lung, singurele fonduri care bat infla\u0163ia sunt cele de ac\u0163iuni. Nu cred \u00eens\u0103 c\u0103 exist\u0103 o solu\u0163ie investi\u0163ional\u0103 care s\u0103 bat\u0103 \u00een septembrie infla\u0163ia preconizat\u0103 de BNR. Nu trebuie s\u0103 te ui\u0163i la solu\u0163ii pentru o lun\u0103-dou\u0103-trei, ci la solu\u0163ii cu durat\u0103 mai lung\u0103\u201d, spune Horia Gust\u0103, pre\u015fedintele Asocia\u0163iei Administratorilor de Fonduri (AAF).<\/p>\n<p>\nRata anual\u0103 a infla\u0163iei a ajuns \u00een iulie la 7,8%, de la 5,7% \u00een iunie. Cre\u015fterea de luna trecut\u0103 a fost sus\u0163inut\u0103 de majorarea pre\u0163urilor la alimente \u015fi servicii cu 7,67%, respectiv 7,33%, \u00een timp ce bunurile nealimentare au \u00eenregistrat un avans de 8,18%. Recent, Mugur Is\u0103rescu, guvernatorul BNR, a declarat c\u0103 dob\u00e2nda de politic\u0103 monetar\u0103, care sta\u0163ioneaz\u0103 de un an la 6,5%, nu va fi diminuat\u0103 \u00een acest an, av\u00e2nd \u00een vedere cre\u015fterea semnificativ\u0103 a pre\u0163urilor.<\/p>\n<p>\n\u201eTitlurile de stat sunt sub 8% \u00een lei \u015fi 6,5% \u00een euro, dar la zece ani. Dob\u00e2nzile la depozite sunt sub valoarea titlurilor de stat, deci dac\u0103 infla\u0163ia se face 9% \u00een septembrie, nu exist\u0103 o solu\u0163ie pe termen scurt. Nu discut\u0103m despre excep\u0163ii, care pot fi \u00eent\u00e2mpl\u0103toare\u201d, continu\u0103 Horia Gust\u0103.<\/p>\n<p>\nLa 1 august, TVA-ul pentru produsele alimentare a crescut de la 9% la 11%, iar pentru produsele nealimentare de la 19% la 21%. Aceast\u0103 majorare este de a\u015fteptat s\u0103 amplifice infla\u0163ia, deja cea mai ridicat\u0103 din Europa, impactul resim\u0163indu-se nu doar \u00een magazinele alimentare, ci \u015fi \u00een restaurante, farmacii, benzin\u0103rii sau magazine de bricolaj.<\/p>\n<p>\n\u201eEmiten\u0163ii de ac\u0163iuni sunt cei care \u00eenglobeaz\u0103 \u00een businessul lor inclusiv aceast\u0103 infla\u0163ie, deci \u00ee\u015fi vor ajusta produsele \u00eenc\u00e2t s\u0103 r\u0103m\u00e2n\u0103 o marj\u0103 de profitabilitate, iar lucrul acesta se transfer\u0103 destul de repede. Ne uit\u0103m, de exemplu, la emiten\u0163ii din energie sau s\u0103n\u0103tate, care vor transfera cre\u015fterile \u00een pre\u0163ul produselor, iar atunci lucrurile se vor a\u015feza\u201d, mai spune reprezentantul AAF.<\/p>\n<p>\n&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Infla\u0163ia din Rom\u00e2nia accelereaz\u0103 puternic, ating\u00e2nd \u00een iulie aproape 8% \u015fi fiind estimat\u0103 de BNR la 9,6%-9,7% \u00een septembrie, pe fondul major\u0103rii TVA \u015fi accizelor, \u00een timp ce unii economi\u015fti prognozeaz\u0103 valori \u00eentre 8% \u015fi 10% la final de an. Dob\u00e2nzile la depozite bancare \u015fi titlurile de stat nu mai protejeaz\u0103 economiile pe termen scurt, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[510],"tags":[32891,542,7172,426,185,201,7283,7573,7148,184,9287,7541,80,10911,13253,19707,9719,32813],"class_list":["post-239252","post","type-post","status-publish","format-standard","hentry","category-actualitate","tag-accelerare","tag-accize","tag-actiuni","tag-alimente","tag-bnr","tag-companii","tag-costuri","tag-economii","tag-fonduri","tag-inflatie","tag-majorare","tag-produse","tag-refuz","tag-solutii","tag-termen","tag-timp","tag-titluri","tag-transferare"],"_links":{"self":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/239252","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=239252"}],"version-history":[{"count":0,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/239252\/revisions"}],"wp:attachment":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=239252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=239252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=239252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}