Press Review 04/03/2017

A glance at the policies pursued by the country, the problems of non-cash settlement and the increase in external debt are the leading topics of today's press.

The newspaper Azerbaijan writes that the unity of the people and the authorities contributes to the development of the country. The author lists the merits of President Ilham Aliyev in the development of all sectors of the country, not forgetting to note his role in ensuring the energy security of Europe.

The author also concerns last year's April clashes in Karabakh, as well as the recent visit of President Aliyev to Saatli.

Echo has published an article entitled “Cashless settlement versus shadow economy in Azerbaijan”. According to the report of the General Confederation of Trade Unions “On the informal economy,” during the crisis of recent years and the subsequent stagnation of the economy, the shadow economy began to grow, which indicates that unemployment stimulates shadow activities.

As for Azerbaijan, the shadow economy is estimated by experts to be 9 to 30% of the country's GDP.

One of the most effective methods of combating the shadow economy is the transition to non-cash settlement.

Novoye Vremya has published an article on the external public debt of Azerbaijan, which at the end of 2016 amounted to 6 billion 913.2 million US dollars.

For the year, the debt grew by 18.9 million dollars, making up 698.2 dollars per capita.

The ratio of external debt to GDP reached a maximum value for 11 years - 20.4%. This ratio is lower than the conventional standard in the world at 50%.