Press Review August 10

Updating the bus fleet of the capital, the situation in the banking system, and increasing registration fees for mobile phones are the leading topics of today's press

The newspaper Azerbaijan writes about the ongoing renovation of the bus fleet of Baku in all existing areas. The head of the public relations and education department of the Baku Transport Agency, Mais Agayev, notes that over 300 modern buses have been purchased over the past 3 years, and in connection with the latest decree of the head of state, this process will be further accelerated.

He noted that on June 21 a tender for the purchase of buses was announced. According to Agayev, 50% of the current bus fleet of the capital are buses whose service life has expired. As it is known, AZN 28 million was allocated for updating the bus park of Baku.

The website Musavat.com writes about the situation in the banking system, discussing it with the expert Parviz Heydarov, who notes the growth of loans issued by banks, as well as the reduction of reserve funds to pay for the unprofitability of banks.

The above factors cannot fully take the banks out of a difficult situation, because the root problems remain unresolved, and first of all, these are overdue loans.

The expert believes that a positive trend in the banking sector will become possible only when the growth in the volume of overdue loans stops.

The expert believes that the banking sector, like other segments of the economy, depends on the price of oil. If it falls, the situation in the banking system will become even more complicated, therefore, reforms are needed in this area.

The website Azadliq.info is discussing the issue of raising state fees for the registration of imported telephones. Experts consider this decision unprofessional. The main purpose of duties is not to fill the state budget, but to regulate the economy, the expert believes. However, this decision will hit sensitive social groups.