Press Review 08/30/2016

Works on arrangement of the Terter region, suspension of the issuance of loans to students, reluctance of citizens to make deposits and high inflation in the country are the leading topics of today's press.

The official newspaper Azerbaijan writes about the care of the state for the front area and the ​​rehabilitation and construction works in the Terter region. The author writes about the dedication of the population of this area both in the protection of the territory and the reconstruction work. During the April war, the area was severely damaged - 256 houses, four schools and two health centers, a kindergarten, and the electricity, gas and water supply were badly affected. AZN 3 million was allocated from the presidential reserve fund. The water and sewer lines for eleven villages of the district will be re-routed during the restoration work.

Azadlig raises the question of student fees. The newspaper writes that all banks have stopped issuing consumer loans for students, although previously such loans were given to low-income families. For example, it has already been done by Turan Bank, Bank of Baku and AG Bank. Such banks as Access Bank, AFB Bank, Ata Bank, International Bank and Bank Standard have never issued loans of the kind.

Echo has published an article entitled 5 Billion 671 Million Manats in Piggy Bank. The article says that according to statistics, today the country's banks have accumulated AZN 7 billion 816 million as deposits of the population, of which AZN 1 billion 517 million is deposits in manats, and the rest is in foreign currency, 96% of which is dollar deposits.

‘As for the cash, then as of July 1, the domestic economy had 9.08 billion manats, of which 5 billion 671 million was in the hands of the population, that is, it is the money that people hold under their pillows.’ The author talks about the methods of using the capital accumulated in the hands of the population.

Novoye Vremya has published an article: Quit Smoking or How to Stop Galloping Inflation. The State Statistics Committee published the average annual inflation at the level of 10.6%, though in the state budget for 2016 inflation is projected at 3.3%.