New ABL chair talks adjustments to state budgets and his views on banking

As the banking sector is, for the umpteenth time in the last quarter century, the litmus test for Lebanon’s economic survivability and hopes of prosperity, Executive sat down with Salim Sfeir, chairman and chief executive officer of Bank of Beirut and chairman of the Association of Banks in Lebanon (ABL). E   At the time of Parliament’s vote on the budget in July, you spoke in an interview to Reuters of positive sentiments about the budget coming from the market. Some time has passed and the budget has been published in the Official Gazette. At this point, what is the position of ABL on the budget? What are your expectations? Our expectations are positive. The process of this budget should lead to a much better budget for the year 2020 that offsets the weakness of the present budget. Although this budget is positive by decreasing the deficit from 11.5 to