Media Review June 1, 2019

The development of the private sector, the slow development of the non-oil sector, the loss of oil prices on the world market and the influence of this factor on Azerbaijan are the leading topics of today's media.

The Azerbaijan newspaper writes about the development of the private sector, noting that 80% of the production is in the private sector. The author also speaks about the development of the non-oil sector, which attracts the attention of foreign investors. In the Yevlakh and Khachmaz districts, business incubators have been established in the regional business centers, where they teach how to do business.

The newspaper Yeni Musavat comments on positive and negative trends in the economy over the past 5 months. Expert Rashad Hasanov considers development in this sector more progressive than in the past 3 years. The expert links the increase in the growth rate with some decisions taken in the socio-economic sphere.

At the same time, the development of non-oil is slower. In the first four months of this year, the figures lag behind the first months of last year.

Exports in 2018 turned out to be $ 20 million less than in 2014.

The website Yeni Sabah.az writes that Azerbaijan is losing $ 6.4 million every day because of the fall in oil prices on the world market, which dropped from $ 73 per barrel to $ 65.

Over the past three weeks, oil has fallen by $ 8. This happens even despite US sanctions against Iran and minimizing oil exports.

The daily oil export of Azerbaijan"s oil is 798,000 barrels.

Azerbaijan should free itself from its dependence on oil when drawing up the state budget for the next year, since a further fall in prices is not excluded.