Press Review 16/11/2016

The development of cotton growing, the rapid depreciation of the manat, and the future fate of the pipeline TAP are the leading topics of today's press.

The Azerbaijan newspaper writes about the development of cotton production in Azerbaijan. The author juts into the history of the development of cotton production in 1970-80s. The development of such a profitable industry will also create additional jobs. The author notes that in 24 regions of the country there is successful development of cotton growing, recalling that next year the cotton harvesting should reach 100 thousand tons. This year the cotton harvest attracted about 70 thousand people.

The website Azadliq.info writes about the rapid fall of the manat. The author writes that due to the rise of the dollar, the banks stop selling it. Now the number of banks not selling the dollar has reached 11.

The expert Samir Aliyev says the Central Bank seeks to reduce the cost of the manat to a certain level.

Echo has published an article about the fall of remittances to Azerbaijan. Every year the volume of transfers will only shrink. This is due to the weakening of the ruble against the dollar and the decline of Azerbaijani migrants abroad.

The currencies of the CIS countries, where the Azerbaijani migrants mostly work, get weaker against the dollar, which is why the volume of money transfers for individuals is reduced.

Novoye Vremya writes on the reduction of loans from international financial institutions. Recall that recently the Azerbaijani Energy Minister Natig Aliyev said that without external borrowing it would be difficult to implement the project Southern Gas Corridor.

Before the end of the year, the Asian Development Bank's Board of Directors will discuss a loan of USD 1 billion for the project.