The development of industry in the country, the situation in banks, and the uncertain future of oil prices are the leading topics of today's press.
The Azerbaijan writes about the successful modernization of the industry, making important decisions in this area, including the creation of industrial zones and parks.
The Echo writes about the banking crisis, which has become chronic. Until banks give out loans to the population at the reasonable interest, talks about their activation are senseless. However, due to the unstable manat rate, this process does not begin.
According to the Financial Market Supervision Authority, for 4 months of 2017 the number of bank employees decreased by 733 people. Commercial banks are taking tough measures to cut costs and gain profits. The volume of lending is declining, and the population continues to withdraw funds from banks.
The Novoye Vremya writes about the decline in the role of oil in the country's economy. It is possible that the reduction in production will exceed 20 thousand barrels per day. Today, Azerbaijan uses mostly old deposits.
Due to these deposits, more than 400 million tons of oil has been produced. In recent years, Azerbaijan has not discovered any large deposits and production volumes continue to fall. -0-
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Variable cloudiness is expected in Baku and Apsheron peninsula on Sunday, 28 July.
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As part of the struggle against illegal migration in Baku city, operative actions were carried out at different addresses. The Interior Ministry reports that employees of the Department for Combating Illegal Migration identified and detained 34 foreigners without documents giving the right to reside and stay on the territory of Azerbaijan.
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On July 25, the Azerbaijani Ministry of Defense accused Armenia of "provoking" by deploying heavy weapons in Kalbajar and quadcopters in the Tovuz direction. The ministry also expressed dissatisfaction and concern over Armenia's military cooperation with Western countries.
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During the operation of the Main Drug Control Department of the Ministry of Internal Affairs, 5 members of an organized group engaged in drug trafficking were detained. All of them have previous convictions: Bahlul Ismayilov, Royal Aliyev, Khayal Aliyev, Samir Aghayev, and Ali Mammadli.
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