Press Review 12. 05. 2017

The organization of the IV Games of Islamic Solidarity in Azerbaijan, the instability in the banking sector, the self-financing plan that does not work, and the decline in ICT production are the leading topics of today's press.

The Azerbaijan writes about the opening of the Games of Islamic Solidarity in Baku today. The author claims that President Ilham Aliyev regards these Games not only as a competition, but also as a "political tool" that brings peoples and countries closer together.

The Musavat.com writes the banking sector is waiting for new shocks. Expert Akram Hasanov believes after restrictions on cashing out money, entrepreneurs are experiencing big problems and cannot withdraw their investments from banks. The limits for cashing in the amount of 30,000 and 15,000 manats for representatives of medium and large businesses greatly hinder the activities of entrepreneurs.

The Echo published an article on the shortage of funds in the regions of the country. The plan of the Ministry of Finance for self-financing of the regions does not work and the regions continue to depend on the capital.

On some items of expenditure, for example, on education, money is allocated not to all areas. Finance is distributed by regional centers. At the moment until the document comes into force, the cities of Mingachevir, Naftalan, Sumgait and Shirvan, as well as the Absheron and Imishli districts are self-financing.

Subsidies from the state budget to cover local expenditures in 2017 will decrease by 743.5 million manats, or 42.7% - to 997.7 million manats.

The Novoye Vremya published an article on the backwardness and weakness of the ICT sector. The most urgent topic is the struggle for grants of the ICT Fund under the Ministry of Communications, where the maximum amount of the grant is no more than 15-25 thousand, and the total amount allocated for these purposes does not exceed half a million.

The total export of various ICT products is about 2.5 million dollars. In this case, a significant part falls on various devices for the reception and recording of sound, pictures and monitors. At the same time, we import 81,000 monitors annually.

In 2016, Azerbaijan exported 706 devices for recording and storing sound and images and in the same year imported 280 thousand of similar devices.

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