Press Review 06.08.2016

Development of Azerbaijan, falling exchange rate of manat, the crisis in the housing market,  attempts to track the cause of the explosion at a military factory "Araz" are  the leading topics of today's press.

The official newspaper "Azerbaijan" published an article entitled "Modern and powerful state", which states that the reason for achieving such a success  became  the activity of  the President Ilham Aliyev. The author notes that the current president continues the political course of  his  predecessor and father Heydar Aliyev. The article also refers to the policy of the current president's reform and decision in this regard, a fundamental program. As a result of these measures, the share of private sector in GDP reached 80%, over the last 14 years in the country has opened more than half a million new jobs. Despite the crisis in the world, Azerbaijan is steadily developing its economy.

"Azadlig" published an article entitled "The Central Bank is powerless before the dollar", in which Samir Aliyev, the expert commented on the situation. He reported that at the last auction of  currency  the SOFAZ put up for sale  $50 million, and by this satisfied only 9% of commercial banks' foreign exchange needs. In Azerbaijan, there is a dollar shortage. The dollar outflow from the country keeps manat under pressure, he said. Artificial keeping the exchange rate of manat at current levels seriously harms the economy.  The National Bank has chosen the policy of soft fall of manat, although had to do it for a long time, the expert believes. He argues that  till the end of the month the dollar will be 1.65 AZN, and at the end of the year - 1.80.

"Bizim Yol" writes about the crisis in the housing market. The expert  Nusret Mamedov  commented on the situation. According to him, the operation of housing purchase and sale in the primary market decreased by 21.82%,  and in the secondary market  - 32.76%. The expert also noted that the rental apartments has increased in July by 10%, although, in general, and there reigns a recession. With regard to rental facilities, there operations increased by 7.8%, while in total, there is a decrease in the level of delivery of objects for rent from the beginning of the year.

"Yeni Musavat" is investigating the cause of the explosion at a military factory "Araz". The newspaper writes that the causes entrusted to keep the incident July 26 explosion in mystery. All material assistance to victims, provided that they are silent about the causes of the explosion. Those who let slip just fired, after factory restore job. The author points out the causes of the explosion a year ago, and in late July of this year, remained closed, that creates different versions of what happened. More than 10 days  passed after the explosion, but the ministry  has not  disclosed the reasons for the tragedy that led to the deaths of two people and wounding 26, according to the article. The author recalls that a similar explosion took place last year at the "Telemechanics" plant,  and then one  man died and 19 people were injured. The reason is still unknown.  A lawsuit has been filed after the explosion at the "Araz" plant  in late July of this year. -0-