Use of oil revenues in favor of the human factor, provision of safe food, the amount of external debt per capita of Azerbaijan, and three options for "saving" the International Bank of Azerbaijan are the topics of today's press.
The Azerbaijan published an article entitled Capital, which Serves the Human Factor. The author claims that the oil revenues have been directed to the development of the economy, infrastructure projects, the human factor, the development of education, etc.
The Echo published an article titled Food Prices in Azerbaijan Growing, Their Quality Deteriorating. Azerbaijani citizens increased their food expenditures in January-April this year, leaving 10.2 billion manats in retail chains, which is 1.7% more than the same period in 2016, the State Statistics Committee said.
The basic expenses of the population for the considered period again fell on food, beverages and tobacco products, amounting to 5.161 billion manats, or 50.6% of the total retail network.
Together with the increase in food costs, the quality of food products is falling. However, the situation may soon become even worse. Most often, citizens complain of poor-quality or spoiled vegetable oil, milk products, bread, and bottled water.
The Novoye Vremya publishes an article about Fitch's negative forecasts regarding the International Bank of Azerbaijan.
The international rating agency Fitch Ratings lowered the long-term issuer default rating (IDR) in foreign currency of the International Bank of Azerbaijan (IBA) to RD (limited default).
The decline in the IDR of the IBA is due to the bank's plan to restructure its external obligations, presented to creditors on May 23, 2017.
The Yeni Musavat writes about the external debt of the country per capita. It is not 704, but 1,500-2,000 dollars per person. The expert notes that Azerbaijan's external debt is about 11 billion dollars, which means 32.3% of GDP. -0----
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The closure of Azerbaijan's land borders was discussed during the parliamentary session on November 25. While the government’s decision cites the coronavirus pandemic as the main reason—despite the World Health Organization declaring its end last year—Zahid Oruj, Chair of the Human Rights Committee in the Milli Majlis, pointed to other factors. He stated, "Opening the borders could result in an influx of hundreds of thousands of non-Azerbaijani refugees due to the Russia-Ukraine war. Additionally, in Iran, many are prepared to cross into Azerbaijan to safeguard their lives and assets amid military strikes. Such waves of refugees could lead to humanitarian, social, and cultural clashes that may threaten political stability."
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On Tuesday, the General Prosecutor's Office announced the initiation of new criminal cases against agricultural product exporters who allegedly concealed their earnings abroad. Specifically, the Sumgayit City Prosecutor's Office has opened a criminal case under Articles 208.2.1 and 208.2.2 (failure to return foreign currency to the country in large amounts by prior agreement of a group of individuals) and Article 308.2 (abuse of office causing serious consequences) against officials of the company "SOİL BOONS" LLC – Jahangir Aliyev, Elyar Gadzhiev, Mehman Mirzamedev, Saleh Gabilov, and Aly Aliyev.
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Rains will continue in Baku and Absheron on 27 November, forecasters said. In places, precipitation will be intense with thunderstorms. Moderate north-west wind.
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On Tuesday, rainy weather with thunderstorms and moderate northwest wind is expected in the Baku, according to meteorologists. The rainy weather will continue untill Wednesday evening. The air temperature at night will be +7 to +10°C, and during the day, +11 to +13°C. The humidity will be 80-90% at night and 70-80% during the day. Rain with thunderstorms will also affect other parts of the country. Snow is expected in mountainous areas. There will be fog in places, with westerly winds.
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