Media Review for February 25, 2020

The development of the financial and banking sector of the country, price increases, and the impact of restrictions on Azerbaijani-Iranian customs on the economy are the topics of today's media.

The newspaper Azerbaijan writes about the development of the financial and banking sector of the country. The author believes that the reforms carried out over the past three years have given new breath to this sector.

Net profit of the banking sector doubled over the past year, while lending in dollars decreased from 38 to 35%, and in deposits of individuals - from 63 to 54%.

A state registry of movable property has been created in the country to lower interest rates and create a healthier credit ecosystem. This makes it possible for non-real estate entrepreneurs to obtain loans secured by available funds in circulation.

Over the past 3 years, the share of deposits in banking resources has increased, which indicates a high dependence of banks on deposits.

The website writes about the absurdity of the claim that the country's population lives well. Expert Neymat Aliyev claims that prices in the consumer market have increased by almost 12%, and authorities say that the price increase is 2.6%.

One reason for the rise in price is growing imports. In 2019, imports increased by 19.2% or $ 2.2 billion. Imported goods enter the country's market, having risen in price by 25.7%. discusses how Azerbaijan will be affected by closure of borders with Iran due to corona virus. The author believes that this factor will not affect Azerbaijan in any way, because Iran is not the main trading partner.

In 2019, Azerbaijan imported goods worth $ 452.7 thousand from Iran, and products worth $ 41.1 million were exported to Iran.

In 2019, 54,197.3 tons of potatoes were imported from Iran to Azerbaijan, which is only 5.4% of the potatoes produced in Azerbaijan. 


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