Press Review 06.10.2016

The role of Heydar Aliyev in the achievement of the independence of Azerbaijan, increasing the dollar's role in the economy, the causes of the crisis of the economy, the situation in the banking system are the themes of today's media.

The Azerbaijan newspaper published an article where the author recalls that this year marks the 25^th anniversary of the acquisition of independence of Azerbaijan, noting the special role of the ex-president Heydar Aliyev.

The author also makes a small excursion into history, referring to the adoption of the Constitutional Act on independence October 18, 1991. In fact, the author criticizes not only the then government, but also the current opposition.

The website Azadliq.info writes that the degree of dollarization in Azerbaijan reached 82%. The situation is analyzed by the expert Nemat Aliyev. According to him, the reason is that the majority of transactions are in US dollar, which reduces the value of the manat in the economic life of the country. The expert blames the Central Bank that it made the national currency unnecessary and predicts deterioration of the situation.

Echo: Acceptance of the Unemployment Insurance Bill is postponed because the interested parties cannot come to a common denominator - it is the Ministry of Labor and Social Protection, the Ministry of Finance, and the insurance companies, the expert Nariman Agayev said. According to him, unemployment insurance cannot replace unemployment benefits.

Currently in Azerbaijan one of the ways to ensure social protection of the unemployed is unemployment benefits. According to the law "On Employment", the status of the unemployed can be received from employment centers. If a citizen registered in one of these centers does not receive a job offer for ten days, he is officially granted the status of unemployed and appointed a benefit. This is based on a number of criteria and can reach 70% of the average monthly salary at the previous place.

Novoye Vremya has published an article about the financial crisis and monopolists.

The decline in oil prices and the depreciation of the currency rate led to the fact that Azerbaijan may remain entirely without reserves. The monopolists are known by all the citizens of Azerbaijan. But a decisive struggle against them is not conducted. But the freedom of the economy depends not only on its performance, but also on the investment climate in the country and the image of the state as a whole.

Yeni Musavat writes about reducing the number of banks in the country. The expert Vugar Bayramov expects closing of unstable banks emerged during the oil boom. He recalls that at that time the country had 43 banks. In recent months, 11 banks have closed and 32 banks have remained.