The possibility of devaluation in Azerbaijan due to falling oil prices and the fight against artificially high prices are the topics of today's media.
The newspaper Azerbaijan writes that expectations of devaluation in the country are unfounded. The author is trying to prove it. Firstly, Azerbaijan is one of the countries with oil and not drawn into the conflict zone, which is explained by the exclusively pragmatic policy of the head of state.
At the same time, extraneous forces also affect the price of oil. That is, oil price issues are subject to bargaining and pressure.
As for Azerbaijan, thanks to the measures taken in time, the country's foreign exchange reserves amount to $ 52 billion, and the presence of other economic opportunities insures the country against surprises.
The Azadliqinfo website is discussing with the expert Neymat Aliyev the probability of devaluation due to rising oil prices. The expert believes that current oil prices make it difficult to implement a number of social and economic projects. In such an extreme situation, the probability of devaluation remains high. The new devaluation will not be mild, and it is likely that it will be in the range of 30-40%.
The website Yeni Sabah.az writes about artificially inflating prices.
Experts believe that the government should resort to administrative measures, although in a market economy, prices should be regulated by the market. However, this requires a competitive environment and eliminated monopolies. In this situation, artificially inflating prices is impossible.
The website Bizimyol.info discusses the reasons for the increase in oil prices. The decision of Saudi Arabia to increase oil production caused a sharp drop in oil prices. Along with pessimistic forecasts, optimistic ones also sound, according to which the Azerbaijani government has a “safety cushion”. Officials say there is no cause for concern.
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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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