Media Review August 8, 2019

Economic reforms in Azerbaijan, falling oil prices and the impact of this factor on Azerbaijan, the work of some government agencies at a loss are the topics of today's media.

The newspaper Azerbaijan writes about economic reforms, calling the country the most reformist in the world. This is confirmed by an increase of 4 billion manat in the country's foreign exchange reserves and other economic indicators - an increase of 20% in commodity circulation, 13% in agriculture, 2.4% in the economy, 3.2% in the non-oil sector, 15.7% in the non-oil industry, and 13% in the non-oil exports.

Over 6 billion dollars were invested in the economy over the 7 months of this year.

The website Moderator.az writes about the fall in oil prices and the impact of this factor on Azerbaijan. Experts believe that the trade war between the United States and China has entered a new stage, which will be more intense than the previous one, which will strike a blow at the international economy.

The price of oil falls below $ 60 per barrel. As you know, the budget of Azerbaijan for 2019 is based on the calculation of $ 60 per barrel. As a result, it may be necessary to revise the state budget.

The website Yenisabah.az writes that some government agencies are operating at a loss. From the statistics published by the Accounts Chamber for 2018, it is clear that a number of government agencies spend more on state funds than they earn.

For example, last year SOCAR received 1 billion 486 million manats from the state, and paid 1 billion 425 million manats to the state. Azerenerji received 240 million manats, and paid 86 million manats. Azerbaijan Railways received 607 million manats, and paid 15 million manats. Azersu received 431 million manats, and paid 27 million manats

The fact that they work at a loss is no secret to anyone, the article says. The way out here is in privatization or in a long-term lease.