Evaluation of the ideas of Islamic solidarity, economic backwardness, the possible consequences of switching to a floating rate of the manat, and reducing the Oil Fund's revenues are the leading media topics.
The Azerbaijan newspaper in an article entitled ‘From tolerance to Islamic solidarity’ praises the decision of Ilham Aliyev that declared 2017 Year of Islamic Solidarity.
The website Azadliq.info ironically reports on the statement made by Ilham Aliyev at the meeting of the Cabinet of Ministers of Azerbaijan on finding a worthy way out of the crisis in 2016.
The expert Nemat Aliyev denies the figures. According to him, GDP decreased by 18.5 billion dollars in 2014-2016.
In 2016 the income in the non-oil sector decreased 1.7 times. The average salary decreased from 566 dollars in 2014 to 314 dollars in 2016
No serious steps are taken to combat corruption and unfair competition, and the price of utilities increases.
In 2017 Azerbaijan will have severe problems and the situation will hardly improve.
Novoye Vremya writes the floating rate will accelerate inflation.
At the meeting, the head of the Central Bank Elman Rustamov with the leaders of the largest banks made a sensational decision to abolish the margin of +/- 4% set by the Bank in foreign exchange rates.
Cancelling the margin actually means a transition to a floating exchange rate of the manat. Now the exchange rate will be set by the banks without restrictive measures, based on the actual supply and demand.
The expert Samir Aliyev in an interview with Bizim Yol criticizes the decision to transfer AZN 7.5 billion from the Petroleum Fund to CBA.
In a month it will be 352 million dollars. At the same time the foreign exchange market deficit will be 300-400 million dollars. However, at the expense of the Petroleum Fund the Central Bank will be only temporarily able to keep the exchange rates.
Stabilization of the rate is possible with a sustainable macroeconomic stability. -0-
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- Economical review
- 12 January 2017 10:48
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- Social
- 12 January 2017 11:26
Social
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On November 1, the weather in the capital will be cloudy, with light rain in some areas during the night and morning. There will be a moderate southwest wind. The temperature at night will range from +7 to +10°C, and during the day it will be +12 to +15°C. Humidity will be 70-80% both at night and during the day. No precipitation is expected across the country. There may be fog in some areas, with a moderate west wind.
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After introducing six innovative products to its subscribers in a short time, Bakcell was honoured with the "Most Successful Rebranding" award at the prestigious international advertising and marketing competition "Felis." The award ceremony took place at the traditional "Brand Week" event held on 8 November 2024 in Istanbul.
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The International Coalition for Democratic Renewal (ICDR) and Forum 2000 Foundation expressed grave concerns over the escalating repression of civil society in Azerbaijan, issuing a joint statement. The groups highlighted the government's intensified crackdown on lawyers, journalists, activists, and human rights defenders, painting a stark picture of a country where dissenting voices are systematically silenced.
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The Times Higher Education (THE), a leading international organization with an audience of 60 million and ranked among the world's top 100 networks in the field of education and skills assessment, has published a comprehensive article titled “Calls for the Release of Azerbaijani Scholar as Climate Summit Begins.” THE, known for its annual ranking of world universities, notes that while a major fossil fuel producer hosts a gathering of global leaders, it is cracking down on dissenters. Human rights groups are urging the Azerbaijani government, which is hosting the COP29 climate conference, to release a scholar detained after criticizing fossil fuel policies.
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