Wednesday, November 23 2011 17:08
Industrial growth in deverloping countries not to exceed 5% over the crisis: Veniamin Safin
ArmInfo. The possible second wave of the financial crisis will hit, first and foremost, the developed economies, and the developing countriers will suffer less, Veniamin Safin, a well-known expert in the sphere of exchange trade, Rector of the International Academy of Exchange Trade, said at today's press conference in Yerevan. According to him, the industrial output growth rates have declined in the world, and in the near future no growth is forecasted against the background of the possible second crisis wave. In this case, Safin thinks, some countries will grow slowly - by 1-2%, the others, particularly, the developing ones - by 4-5%.
As regards the forex market, Safin said that the EUR exchange rate against USD will weaken next year, and multidirectional fluctuations of the European currency are inevatibale. The dropping trend of EUR will continue until Greece is excluded from the European zone, which the expert thinks low probable.
In the near future the oil price will be maintained within $100-115 per barrel. In its turn, USD will remain the dominating currency at least for the next ten years. "The U.S. has the most powerful economy in the world, and it is undisputable", he said. Safin called China a big factory and added that today not the producer, but the inventor earns money, meaning the United States.
Concerning the main principles of work at Forex, Safin said that the financial markets need first of all discipline. "Therefore, there are a lot of military retirees among successful traders",he stressed.
"In fact, Forex is a work, a business, and one should study it", he said. The Yerevan branch of Forex has been teaching exchange trade for 11 years. Over this period, 7,000 customers attended introductory seminars, and over 700 customers attended basic training courses.
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