Press Review 07/28/2016

Enterprise development, the squandering of finance in state institutions, financial position and deception of citizens seeking work are the themes of today's media.

The official Azerbaijan newspaper published an article, which refers to the private sector, its development and role in this business. The author argues that the development of entrepreneurship in Azerbaijan is connected with the name of Heydar Aliyev. Since mid-1993 the country has moved towards a market economy and private sector development started in 1996. According to data for 2015, the share of private sector in GDP was 82%, while in the industrial area - 76%.

Azadlig has published an article entitled Why State Authorities Do Not Stop Robbery. According to the Accounting Chamber, financial mismanagement is observed in such state entities as AZAL, the State Committee for Refugees, and the State Committee for Irrigation and Water Management.  The author notes that, despite the multimillion theft, no one was punished.

SOCAR spent 120 million USD on the European football championship in France, and the Tax Ministry allocated 94 million USD for the construction of a new building for itself.

Novoye Vremya has published an article entitled World Bank to Rescue. The World Bank (WB) is working with the Azerbaijani government to reduce the number of problem loans in the banking sector, said World Bank Regional Director for the South Caucasus Mercy Tembon.

 At present, Azerbaijan has 33 licensed banks. Twelve banks were deprived of their licenses in a year.

Bizim Yol writes about the rise in unemployment. In search for jobs people turn to the Internet, where they encounter scams. The article also provides concrete evidence of fraud when applying for a job. The author warns citizens about the need to be careful.   –0---