LEBANON WEEKLY MONITOR NOVEMBER 16 - NOVEMBER 22, 2020 WEEK 47 CONTACTS Economy ____________________________________________________________________________ Treasury & Capital Markets p.2 A 14% DECLINE IN TOTAL FISCAL DEFICIT OVER THE FIRST EIGHT MONTHS, WHILE PRIMARY BALANCE SHIFTS FROM SURPLUS TO DEFICIT Bechara Serhal The public finance figures for the first eight months of 2020 suggest that both public revenues and public (961-1) 977421
[email protected] expenditures were down by double-digit contractions, generating a net decline in fiscal deficit, though the primary balance shifts from surplus to deficit. Private Banking Also in this issue Toufic Aouad p.3 Merchandise at the Port of Beirut down by 36% in first ten months of 2020 (961-1) 954922
[email protected] p.4 Gross public debt at US$ 94.8 billion at end-September 2020 p.4 Value of cleared checks almost stagnating in first ten months of 2020 Corporate Banking Bassima Jamaleddine Harb Surveys (961-1) 964764 ____________________________________________________________________________
[email protected] p.5 LEBANON RANKS 105TH GLOBALLY IN THE LEGATUM PROSPERITY INDEX 2020 The Legatum Institute released it 2020 Prosperity Index in which Lebanon ranked 105th globally down from its 104th position in 2019. The country took over the tenth position in the Arab MENA region. Also in this issue p.6 Household spending in Lebanon to begin a muted recovery in 2021, as per Fitch Solutions Corporate News ____________________________________________________________________________ p.7 BANK AUDI’S TOTAL ASSETS AT US$ 35.2 BILLION AT END-SEPTEMBER 2020 Bank Audi announced null net profits in both the first three quarters of 2019 and 2020, as the management resolved to allocate all profits to expected loss allowances until the dissipation of RESEARCH uncertainties, according to its latest release.