State control of loan repayment should be active

State control of banking and industry should be tightened, the chairman of the parliamentary committee on economic policy Ziyad Samadzadeh said during the parliamentary session.

According to him, the total external debt of the country is at 9% of gross domestic product, and for the country its gradual return with interest is no problem. The problem is of extension and return of domestic credit. Customers do not return debts to commercial banks, and they do not repay the government. Debts of banks reached AZN 300 million and are growing. The reason is the high interest rates.

 Entrepreneurs do not engage in less profitable light industry, resulting in 15 manat of local products per capita. The government does not consider this area as priority, resulting in a three-year plan to production within 16 manats per capita. It should be noted that, even today, if the tax burden on producers becomes easier, the production can be increased to AZN 200 per person.

Engineering is also called a priority. Its development will enhance the engineering of building and will create a real basis for the professional staff. To stimulate areas proposed for future projects in engineering, the budget represents a separate item. - 17D-