First Int'l CEO sees no market recovery earlier than 2003

Calls new budget "problematic"
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First International Bank of Israel CEO David Granot does not see the economy recovering before 2003, Yedioth Ahronoth reports.

Granot asserts the budget that was passed is problematic, as its serves political needs rather than the needs of the nation.

Granot added that the interest rate on loans to Israel has gone up even though Israel's credit rating remained unchanged.