Media Review � 21.09.19

The influence of oil revenues on the country economic development, discussion of state budget forecasts for 2020, the reasons for the country dependence on wheat imports and other topics are in the focus of today's media.

The newspaper "Azerbaijan" assesses the importance of oil revenues in the country economic development in connection with the 25th anniversary of the "contract of the century". This event opened a new one in the country development and, according to the author, the oil strategy placed Azerbaijan among the leading states of the world. Since the beginning of the exploitation of the Azeri-Chirag-Guneshli (ACG) fields in November 1997, 5 billion barrels of oil have been produced. According to the State Oil Fund of Azerbaijan, the total income from this project from 2001 to July 31, 2019 finally to 143 billion 366 million dollars. At the expense of the Oil Fund, 100 villages and towns for internally displaced persons were built. Large infrastructure projects have also been implemented - roads, gasification, and new power plants have been created.

The country has built more than 3,000 schools and 600 medical institutions, implemented projects to improve the welfare of citizens, diversified the economy, and developing the non-oil sector.

The newspaper "Yeni Musavat" in the article discusses the forecast of the state budget for 2020, based on the price of a barrel of oil of $ 55. At the same time, it is recalled that the 2019 budget was laid out at a price of $ 60 per barrel. Experts believe that the forecast for $ 55 is a risk, given the unstable market. Expert economist Parviz Heydarov believes that calculating budget forecasts based on a value of $ 55 per barrel is a positive approach, since the state budget will be insured against any risks.

Economist Vugar Bayramov believes that the government should proceed from the price of $ 50. Economist Rashad Hasanov believes that oil prices are now in a very risky zone. By 2020, the price may be lower than $ 55, which will create difficulties in budget execution.

According to the expert, oil prices have a direct and indirect impact on the budget, their reduction leads to a reduction in taxes from the oil sector, which can lead to arrears of about 2.5 billion manat.

Sfera.az website touches on Azerbaijan"s dependence on food wheat imports. Vahid Maharramli, an expert, believes that the lack of specialists does not allow satisfying the country needs at the expense of internal resources.

"The work to supply Azerbaijan with wheat due to internal capabilities is imitated. Financial resources in this area in the form of subsidies are appropriated by officials. On the other hand, no serious steps have been taken to strengthen the material and technical base for growing food grain through domestic production. No work is underway to create new productive varieties," said the expert. Agriculture must be managed by professionals. In most European countries, farmers are agronomists and livestock breeders.