"Tidbits From TNT" Monday Morning 2-7-2022

TNT:

The House of Representatives ends its deliberative session and postpones the election of the President of the Republic

The House of Representatives ended its deliberative session, which was originally intended to elect a President of the Republic for the fifth session.

A parliamentary source said that the House of Representatives ended its deliberative session while the representatives left the parliament building  ink

Tishwash:  Deputy For Al-Fateh: The Coming Hours Will Witness A Surprise That Satisfies Everyone

The representative of the Al-Fateh Alliance, Salem Al-Anbaki, suggested, on Monday, the occurrence of a surprise solution that satisfies all political parties in the coming hours.

Al-Anbaki said in an interview seen by "The Information", that "the name of the national majority on the next government is completely incorrect, as the conditions of the country do not allow this at all."

He added, "The majority must be met by a national opposition by choice and not by force, and the circumstances are not completely prepared for that," expecting "a surprise with a solution that satisfies all parties in the coming hours."

And the representative of the State of Law coalition, Dergham al-Maliki, had warned in a previous statement that Iraq would enter a constitutional vacuum if the country's president was not elected, while he confirmed that intensive meetings would be held to reach an agreement on forming the government and choosing the president of the republic  link

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Annie68:  Don't they just continue with the caretaker government,which can't really do much?

RVAlready:  I think either Sadr plus the Kurds will make a decision, or the federal court will appoint someone. Either way, Maliki will not win.

RVAlready:  I can’t see continuing the caretaker government indefinitely….I think the federal court will step in, if the stalemate continues….Usually, when the legislative branch causes a constitutional crisis, the judiciary steps in to solve the problem.

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April:  Al-Halbousi directs to address the secretariat of the Council of Ministers to send the 2022 budget 

 Baghdad - Mawazine News

 Parliament Speaker Muhammad al-Halbousi directed, today, Monday, to address the secretariat of the Council of Ministers to send the 2022 budget.

 The Parliament's media department said in a brief statement received by "Mawazine News", that al-Halbousi "directed the General Secretariat of the Council of Representatives to address the General Secretariat of the Council of Ministers to send the budget. Federal for 2022.

 Earlier today, Monday, the head of the Parliamentary State Forces Alliance bloc, Faleh Al-Sari, called on the parliament's presidency to "issue a legislative decision obligating the government to send the budget for the purpose of approving it in the service of the Iraqi people." 

https://www.mawazin.net/Details.aspx?jimare=183916

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Tishwash:  A Record Rise In The Rate Of “Domestic Cash” Outside Iraqi Banks In 2021

The economic expert, Manar Al-Obaidi, revealed, on Monday, the high proportion of the local monetary mass outside the scope of Iraqi banks at the end of last year.

Al-Obaidi said, in a Facebook post followed by / the information, that “the local cash outside the banking system has increased by 50% since the beginning of 2020 to reach more than 70 trillion dinars at the end of 2021, after it was 47 trillion dinars at the beginning of 2020.”

He attributed this to "the weak banking culture and the lack of confidence in the banking system, which kept many from dealing with local banks."

The expert explained that “deposits with Iraqi banks increased by 15% to reach 93 trillion dinars, after it was at the beginning of 2020 81 trillion Iraqi dinars,” noting that “the ratio of cash outside the banking system to the volume of deposits is about 75%, which is a high percentage. Very much compared to other countries.

He pointed out that “the private sector deposits constitute 45% of the total deposits, while government institutions’ deposits amount to 27%, while the central government’s deposits with banks amount to 28%, in contrast, the contribution of the banking and insurance sector to the GDP is less than 1.5%.”

He called for "the adoption of banking policies that increase confidence in the banking sector, as well as the adoption of stricter policies in monetary transactions outside the banking system that would increase the value of deposits and reduce the cash outside the banking system, which would lead to an increase in the banking sector's contribution to the domestic product, which would create job opportunities. Reality in a country where the unemployment rate is more than 30%.”

Al-Obaidi considered that “Iraq is among the countries with a low banking mass, where there is a bank for every 32 thousand people, while the global average is 10 thousand people for each bank, and Iraq needs to open 3 times the number of banks and their branches that currently exist, and many of the existing banks are weak banks that depend on an auction Work on the sustainability of its work.” link

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