Media Review for April 29, 2020

State support to entrepreneurs, the likelihood of closing 4 more banks, the level of trust in the country's banks, as well as questions regarding the allowance of 190 manats for the unemployed are topics of today's media.

The newspaper Azerbaijan writes about the next plan of the President to support entrepreneurs. Despite preventive measures, losses from the pandemic continue, amounting to 120-150 million manats daily.

During the quarantine period, 300 thousand entrepreneurs and 290 thousand micro entrepreneurs have received financial assistance and benefits. The total cost of the package of tax benefits has amounted to about 114 million manats, and the timing of tax payments has been extended until January 2021.

The site Müsavat.com discusses with experts the situation with 4 banks of the country - AtaBank, AGBank, NBCBank and AmrahBank.

A total of 812.5 million manat is located in these banks. The Central Bank has appointed temporary administrators to the banks.

As for the issue of money to investors, the process may begin in the fall. However, the problem is that revoking licenses will further undermine public confidence in banks, and a government decision to postpone lending could collapse the banking sector.

The Azadliqinfo website also discusses with experts the situation in the banking system and the reason for distrust of banks. The reason is that banks are not free and tied to political power, and therefore they become victims of political struggle.

For 28 years, a healthy, competitive banking market has not been formed in the country, and banking management does not meet modern standards.