The situation with the construction of the TANAP gas pipeline and inflation ahead of wage growth are the topics of today's press.
The Azerbaijan writes about the role of TANAP and the progress of the construction of this gas pipeline, noting that more than 82% of the construction has already been completed.
The gas produced at the Shahdeniz field will be transported 1,850 km throughout Turkey. The pipeline is planned to pump 16 bcm of gas, of which 6 bcm will be delivered to Turkey, and 10 bcm to Europe. It is planned to increase the volume to 31 bcm. The gas pipeline is fully planned to be commissioned in the second half of 2018.
The Echo published an article titled Azerbaijan before Choice: Saving Banking System or Keeping AZN Rate. The banking system of Azerbaijan can be saved in two ways. Either the Central Bank should lower its discount rate to 2-3%, or a whole state program to save the banking sector should be adopted.
According to some sources, initially six billion manat will be enough for this process. Not for nothing all courts are overflowed with banking cases today. Citizens cannot repay loans, so almost all cases go to courts. But if the government goes to one of two steps to save the banking system of the country, the manat exchange rate may be shaken and fall, and the Central Bank of Azerbaijan considers the priority of preserving the AZN rate rather than the position of banks.
The Novoye Vremya published an article on the growth of inflation. Despite the relative stabilization of the national currency"s exchange rate, the growth of prices for consumer goods continues. Non-food products increased by 0.1%, services to the population - by 0.2%, and food products - by 0.3%.
Average annual price growth in August was 14%. Food products for the year went up by 18.2%, non-food products - by 12.6%, and services - by 9.6%.
According to independent analysts, inflation is much higher than the stated 14%.
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Last evening and night, marble “monuments” from the time of Hajibala (former mayor of the capital) once again reminded the residents of Baku of themselves. Underground passages and tunnels, decorated with marble and not equipped with an appropriate drainage system, caused a real flood in a number of districts of the capital.
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The leading mobile operator brings together literature enthusiasts as part of the “Book Club” project Azercell remains dedicated to preserving Azerbaijan’s literary heritage through its ongoing "Book Club" initiative. On October 25, the company will host a literary evening with the participation of contemporary writer Jeyhun Hidayatly, narrator Khazar Suleymanly, and screenwriter Azer Aydemir.
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The rain that started in Baku on October 21 will continue until noon on the 22nd. In several areas of Absheron, the precipitation will be heavy with thunderstorms. In the regions of the country, the rain will last until October 23. Most of the country will experience intense precipitation with hail. In the mountains, it will snow. An increase in water levels in mountain rivers is expected, which may lead to mudslides.
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Precipitation will occur in some places in Baku and Apsheron peninsula on Sunday, 20 October. At night, rain will intensify in Absheron, there is possibility of thunderstorms. Precipitation In the afternoon will gradually stop.
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