The decrease in water levels in rivers, the reasons for banks not financing the real sector, and the cost of rental housing are topics of today's media.
The newspaper Azerbaijan writes about lowering the water level in the country's rivers. For example, on January 21, the water level in the Kura decreased by 7 cm, and the water use is 100 cubic meters per second. This is below the mandatory norm and is 64%. The Ganykh River level at the Ayrichay point decreased by 1 cm, and the water level in the Araz River in the town of Gyvrag decreased by 2 cm. The article gives examples of water reduction in rivers at various points.
The Oxu.az website writes that banks do not finance the real sector.
In 2019, the National Bank continued its policy of gradual reduction of the discount rate, and at present it is 7.5%.
Why, then, do banks not finance the real sector?
Since last year, lending increased by 16%, including the issuance of business loans. Last year, the money supply increased by 24%, and more than 2 billion manat was transferred to banks.
However, lending to business entities only increased by 11%. When lowering the discount rate, it is very important to immediately reduce the interest rate on loans issued, experts say.
The website Marja.az writes that the social housing project is actually a real business project. According to MP Vahid Ahmedov, prices for such housing are unacceptable for low-income families.
Seven thousand manat is too much for a down payment, Ahmedov said. If these houses seem to be interest-free, then the prepayment should be low. With this approach, people will not be able to buy rental housing, so this issue needs to be reviewed.
According to the expert Natig Jafarli, this housing cannot be considered interest-free, because these same interests are already included in the total cost of housing. All this looks like a business project.
As you know, 331 apartments will be sold through rent.
Social
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The closure of Azerbaijan's land borders was discussed during the parliamentary session on November 25. While the government’s decision cites the coronavirus pandemic as the main reason—despite the World Health Organization declaring its end last year—Zahid Oruj, Chair of the Human Rights Committee in the Milli Majlis, pointed to other factors. He stated, "Opening the borders could result in an influx of hundreds of thousands of non-Azerbaijani refugees due to the Russia-Ukraine war. Additionally, in Iran, many are prepared to cross into Azerbaijan to safeguard their lives and assets amid military strikes. Such waves of refugees could lead to humanitarian, social, and cultural clashes that may threaten political stability."
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On Tuesday, the General Prosecutor's Office announced the initiation of new criminal cases against agricultural product exporters who allegedly concealed their earnings abroad. Specifically, the Sumgayit City Prosecutor's Office has opened a criminal case under Articles 208.2.1 and 208.2.2 (failure to return foreign currency to the country in large amounts by prior agreement of a group of individuals) and Article 308.2 (abuse of office causing serious consequences) against officials of the company "SOİL BOONS" LLC – Jahangir Aliyev, Elyar Gadzhiev, Mehman Mirzamedev, Saleh Gabilov, and Aly Aliyev.
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Rains will continue in Baku and Absheron on 27 November, forecasters said. In places, precipitation will be intense with thunderstorms. Moderate north-west wind.
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On Tuesday, rainy weather with thunderstorms and moderate northwest wind is expected in the Baku, according to meteorologists. The rainy weather will continue untill Wednesday evening. The air temperature at night will be +7 to +10°C, and during the day, +11 to +13°C. The humidity will be 80-90% at night and 70-80% during the day. Rain with thunderstorms will also affect other parts of the country. Snow is expected in mountainous areas. There will be fog in places, with westerly winds.
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