Press Review 09/30/2016

Evaluation of changes to the Constitution made by the September 26 referendum, reduced demand for dollars, the problems in attracting investment, and the budget discussion for 2017 are the leading topics of today's press.

The Azerbaijan newspaper claims that the referendum was free, fair and transparent, and it is confirmed by the positive opinion of international observers. The author believes the amendments are aimed at strengthening citizens' rights and freedoms.

The website Azadliq.info writes about the output at the foreign currency auction, noting that supply exceeds demand. So, the September 29 auction offered 150 million dollars, of which 22 banks purchased only 48.9 million.

Novoye Vremya publishes an article about a bad atmosphere for business.

Azerbaijani entrepreneurs living abroad should see the credibility of the country in terms of business security. If they trusted it, their money would for a long time work for our economy, not other countries. Many times it happened that an investor from abroad opened a business in Azerbaijan, and later regretted it. Because of shortcomings of the legislation and the judicial system and because of the mentality of local entrepreneurs, many of them are on the verge of bankruptcy.

Instead of market in Azerbaijan there is bazaar. The courts are dependent on executive bodies, and the monopolists and oligarchs are mostly the same people who, one way or another, represent the power.

Bizim Yol writes that the budget for 2017 is the smallest in the last 5 years. The expert Nazim Baydemirli believes the population will have to save much.

The revenue fell by 5.2%. It is necessary to look for other sources to improve the situation.

The expert Gubad Ibadoglu said that only 31% of the budget is formed from the Oil Fund transfers. The rest of the budget should be formed by manufacturers and entrepreneurs. -0 ---