Media review for March 30, 2020

The country's media focuses on the coronavirus pandemic and its economic and financial consequences. The measures taken have created problems in a number of areas, experts suggest ways out.

The newspaper Azerbaijan discusses with an expert Vusal Gasimli how the pandemic affects supply and demand. Thus, the pandemic slowed down the growth of supply and demand. Despite this, real growth will be possible in the GDP of Azerbaijan in the first quarter of the year. The main drivers will be the non-oil sector, communications and information services.

The site “Müsavat.com” discusses the fall in oil prices, as the situation in the global oil market is increasingly aggravated. Brent crude oil fell 6.61% ($ 1.74) to $ 24.60, while WTI crude oil lost 5.66% ($ 1.28) and is currently selling at $21.32.

The completion of the OREK + agreement will be in April and countries intend to increase production, which will further reduce the price. Some analysts predict a drop in price to $ 15-10 per barrel.

If the peak of the pandemic ends in April, demand will increase, which means prices will jump.

Bizimolinfo.az website ”is discussing with MP Vahid Ahmedov the issue of freezing government prices for bread, meat and sugar. He claims that under quarantine and falling oil prices over the course of a month, food price stability can be maintained.

There are enough products in the country, and import continues. However, it cannot last so long and prices can jump sharply. Therefore, you can use the experience of Russia and freeze prices for meat, bread, sugar and other food products.

Entrance to Baku is closed and farmers cannot bring fruits and vegetables, this will also  cause higher prices. The MP believes that this issue should be resolved in the near future.

The Yeniavaz.com website is discussing with MPs Fazil Mustafa and Hikmet Babaoglu what citizens will do who will not be able to pay utility bills due to the quarantine regime. Both deputies believe that it is necessary to introduce a delay in this matter until the situation is restored. This can be done in the form of a social package. This will be temporary, but it will be able to alleviate the situation, MPs say.