Press Review 11.02.2017

Official newspapers present the theme of President Ilham Aliyev's meeting with the family of National Hero Chingiz Gurbanov.

In the center of media attention is also the problem of deficiency of manat weight, condition of the banking sector, the sharp margin of currency purchase and sale.

"Azerbaijan" newspaper published a lengthy article entitled "Azerbaijan has strong soldiers", which is dedicated to the deceased at the front on December 29 last year, the soldier Chingiz Gurbanov. Awarding him the title of National Hero and his meeting with President Aliyev's family is considered as a high estimation given by the President to all martyrs who sacrificed their lives for the liberation of native land.

The newspaper "Echo" focuses on the problem of shortage of manat. Central Bank of Azerbaijan manat is saving manat weight to stop the inflation process. That is why there is a national shortage of currency in the country's banks, experts say.

However, the director of law firm Akram Hasanov believes that all attempts of the Central Bank  to delay next devaluation of manat  at the expense   of the exchange reserves of the State Oil Fund. According to the expert, there are no objective reasons for the strengthening of manat position in the long term.

"The dollar mass flowing into Azerbaijan does not grow, therefore there cannot be a talk about  any strengthening of manat,"A.Hasanov said.

"New time" is continuing its long-playing theme, cursing the banking system. Now, the newspaper writes about the fraud and abuse management of some banks, fraud in the sale of property of customers, the design of fake loans.

«Musavat.com» writes about the situation on the currency market, the more expensive and cheaper dollar AZN for unknown reasons. Experts believe that the depreciation of the dollar has no economic basis. A member of the parliamentary committee on economic policy Vahid Ahmedov agrees with it.  The drop of dollar rate is artificial for the purpose of accumulating foreign currency in banks. However, the rise in price of manat is temporary.

The expert Vugar Bayramov said that the banks are speculating  the exchange rates, and the need to use a specific margin between buying and selling rates.

Samir Aliyev also believes that the dollar is artificially undervalued and banks earn on margin, which reached 15% between buying and selling rates. Banks  buy  daily 7-8 million dollars,  and  gain from the sale of 500-700 thousand dollars.-0-