The restrictions applied in connection with the coronavirus and the impact of the collapse in oil prices on the social, economic, financial life of Azerbaijan are the topics of today's media.
The newspaper Azerbaijan assesses the ongoing struggle against the coronavirus pandemic at the state level and emphasizes the timeliness of the necessary measures, the application of a quarantine regime, a social package for unemployed citizens, the poor, and financial support for entrepreneurs.
Bizimyol.info writes that Russia has decided not to comply with the agreement of the OPEC + countries to reduce oil production to 9.7 million barrels. On April 17, Russia increased oil production by 0.8% and now it produces 1.557 million tons of oil per day. This was a continuation of the oil war between Russia and Saudi Arabia, the author believes. The sentiment reigning now in the oil market does not give reason for optimism.
The website Redaktor.az discusses with experts the issue of the impact of a drop in oil prices on the dollar and the manat, noting the negative consequences for the manat. Only exporting countries will suffer from falling oil prices, while importing countries will benefit, which stimulates their economy. As for the manat, it is not known how long the government will be able to maintain the current national currency rate.
Yeniavaz.com discusses the situation in the real estate market, which was strongly affected by the quarantine regime. A decrease in funds received in the camp reduces interest in real estate and lowers prices. In the current situation, prices in the real estate market may fall by 20-25%.
If oil prices remain low and the state supports the construction sector, then real estate prices may fall another 10%, experts say. Today, prices on the rental housing market also fell by 10-15%. –0-----
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An online meeting of civil society activists focused on the human rights situation in Azerbaijan, convened on the initiative of the Justice Solidarity Committee, highlighted significant concerns over the detention of journalists, political activists, and opponents of the war. The gathering, held on August 30, coincided with the International Day of Remembrance of the Missing and underscored the ongoing challenges facing both Azerbaijani and Armenian societies in the wake of the Karabakh conflicts.
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No precipitation is expected in Baku and on the Absheron Peninsula; the northwestern wind will change to a southeastern wind during the day. Air temperatures will range from 21-26°C at night and 33-38°C during the day, according to the National Hydrometeorology Service of the Ministry of Ecology.
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A fire has erupted at the Experimental and Testing Production of the Scientific Research Institute of SOCAR (the state oil company) in the Surakhani district of Baku, the Ministry of Emergency Situations reported. "Thanks to the urgent and necessary measures taken by the Ministry of Emergency Situations, the spread of the fire to neighboring areas, including nearby residential buildings, has been prevented," the statement reads. Efforts to extinguish the fire are still ongoing.
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In September, the average monthly air temperature in Azerbaijan is expected to be close to the climatic norm. Precipitation levels will also be near the norm, but in some areas, they will exceed it, according to the September forecast from the National Hydrometeorological Service.
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