Media Review October 11, 2018

The economic success of the first 9 months of this year, the lack of a solution to problem loans, and lawlessness in hiring are the topics of today's media.

The newspaper Azerbaijan writes about the successful implementation of the new strategic concept of President Ilham Aliyev, which has ensured a high dynamic of economic development.

The author cites the example of 28 projects already implemented, including the Southern Gas Corridor, TANAP, the international trade port in Alat, the launch of the third satellite Azerspace 2, and the fulfillment of these promises and commitments.

The newspaper Yeni Musavat continues to write about problem loans. Expert Akram Hasanov notes that the consideration of the issue of problem loans in the Constitutional Court was first held in 2015 at the initiative of banks. The current consideration of this issue at the Constitutional Court (August 2018), the expert notes, took place as a result of the interest of circles who took large loans from banks.

Banks in large numbers send the names of their debtors to law enforcement agencies.

Most problem loans are issued as a consumer loan, not a business loan. Even the largest loans are not registered as a business. The expert claims that 60% of problem loans are issued without collateral, illegally, for people close to the banking community at the most meager interest.

The website Bizimyol.info discusses with experts the issue of hiring without an employment contract and talks about double-entry accounting of employers. The experts came to the conclusion that an employer who approaches the recruitment of employees from the point of view of the law loses the competition to a shade entrepreneur.

Some measures of the Ministry of Labor and Social Security are not in favor of an honest entrepreneur. It is also possible that compulsory insurance may be imposed on honest entrepreneurs, experts fear.