Media Review - November 30, 2018

Relations between Azerbaijan and the EU, changes in pension payments, and the threat of non-payment of deposits are the leading themes of today's media.

The Azerbaijan newspaper writes about relations with the European Union, of which Azerbaijan is considered an important partner as a participant in many EU programs.

The cooperation between Azerbaijan and the EU began in 1996, and since 2009 they have been cooperating under the "Eastern Partnership Program".

From June 2018, the parties initialed the Partnership Priorities document, which will open new perspectives for cooperation until 2020.

The EU is the main trade partner of Azerbaijan, and its share in total trade is 50%. During the period of independence of Azerbaijan, the EU has invested about 25 billion dollars in the country, and more than 1,500 EU companies operate in Azerbaijan.

The website Oxu.az writes that according to the latest changes, the retirement age for men will be 64 years, and for women - 60.5 years. Recall that in 2016, the retirement age for both men and women was raised to 65 years.

One of the pension requirements is at least 25 years of insurance experience or the availability of pension capital in a personal account.

This gives the right to receive a minimum pension of 110 manat. In order to get this amount, the amount of pension capital for the current period should be AZN 16,743.

The newspaper Novoye Vremya writes about the problems of banks. The law on full deposit insurance will expire in March of next year, and the restructuring of the country's banking sector is not yet completed and several troubled banks remain.

This means that if the bank closes after the mentioned date, depositors will not receive back the entire amount, but only 30 thousand manat.