Necessity of presenting a binding program for economic reform

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Necessity of presenting a binding program for economic reform
Image Credit: Al-Qabas

Kuwait City, Oct 9: Al-Shall Center for Economic Consultations addressed the topic of the national dialogue, stressing that it is not certain that what was published about it are correct topics, assuming that they are close to the truth because they were repeated by more than one party, and because no correction or denial of them was issued.

In his weekly report, Al-Shall said, “Within our jurisprudence, there are 4 issues for each of the two sides of the dialogue, and they represent the demands of each of them against the other. By the two sides of the dialogue, we mean the representatives of the parliamentary majority (a party), the government, and those who support it (a party).”

He added: “The demands of the first party, or the representative, are amnesty for politicians in exile, in addition to other bloggers, an amendment to the election law, an amendment to laws restricting freedom of opinion, and a fundamental cabinet reshuffle, which may include a greater number of majority representatives.

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The demands of the government party are to return and accept regular sessions of the National Assembly according to the de facto formation, to approve the public debt law, to agree on an orderly withdrawal from the reserve of future generations, and to accept the immunization of the Prime Minister from interrogations until the end of the current session.”

Paralysis

Al-Shall pointed out: “In principle, dialogue in a situation like the current crisis situation of the country in an unprecedented manner is required, but giving the current dialogue a patriotic character if its topics are true is incorrect. movement, even in a wheelchair.

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He continued: “The nation’s real crisis is in the fire of its liquidity, and the inability of its economy to create sustainable job opportunities for its citizens and the concern about the inability to finance the necessary needs has turned into a daily matter because it is linked to the movement of oil prices and production, which reflects the level of addiction to it, which is sad.”

Temporary settlement

Al-Shall said: “What might result from the dialogue as we understand it, if it succeeds, is just a temporary political settlement, after which there is one of two possibilities. The first is positive, and it will not be achieved without a fundamental amendment in the composition of the Cabinet, and the necessity of presenting a serious and binding program for financial and economic reform.

The second is negative, which is that the government’s quota formation remains the dominant one and that tolerance is used to pass the public debt law and withdraw from the future generations’ reserve to buy more time for the old and existing political and financial approach, or to repeat the post scenario of government borrowing in 2017, and start catching up with the future generations’ reserve the fate of the general reserve.”

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Al-Shall concluded: “We still believe that the chances of success for the current political settlement project and the national reform project in its comprehensive sense, would have been much better if the change of administration preceded it. , but a missed opportunity, as usual.

And in light of the reality of the country in crisis, we can only hold on to any hope, for whoever is in the balance this time is the future and fate of a country, which may live its last chance for reform, not the victory or defeat of this or that party.
Notable cadre:

High real estate liquidity

Al-Shall’s report indicated that the latest data available in the Ministry of Justice – Real Estate Registration and Authentication Department – (after excluding both the craft activity and the coastal strip system), indicates an increase in the real estate market liquidity in August 2021 compared to the liquidity of July 2021, where the total value of transactions reached Contracts and agencies for the month of August scored about 431 million dinars, which is 15.5% higher than the liquidity level of July 2021, which amounted to 373.1 million dinars, and 60.4% higher compared to the liquidity of August 2020, when the liquidity at that time amounted to about 268.7 million dinars.

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The August 2021 trading was distributed between about 418.2 million dinars in contracts and about 12.8 million dinars in agencies. The number of real estate deals for this month reached 1,237, distributed between 1,190 contracts and 47 agencies. Al-Ahmadi Governorate achieved the highest number of deals with 817 deals, representing about 66% of the total number of real estate deals, followed by Hawalli Governorate with 136 deals, representing about 11%, while Jahra Governorate had the lowest number of deals with 31 deals represented by 2.5%.

When comparing the total trading of August with its counterpart in the same month of the previous year (August 2020), we note that it increased from about 268.7 million dinars to about 431 million dinars, or by 60.4% as mentioned above. The increase included the liquidity of private housing activity only, by 89.3%, while the liquidity of investment housing activity decreased by -6.2% and the liquidity of commercial activity decreased by -3.3%.

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