Press Review 17/11/2016

Self-financing of regions, growth of the food prices, unemployment, and shortage of dollars are the leading topics of today's press.

The Azerbaijan newspaper writes that the regional development strategy gives successful results. In 2017, 34 cities and regions will become self-financing, without receiving subsidies from the state. In the future, the volume of state grants will be 10.6%, which is 42.7% less than before. The amount will be AZN 734.5 million. The author believes these funds will be directed to the development of other sectors of the economy.

The website Azadliq.info wonders how the fall of AZN will affect the price of foods and the expert Nemat Aliyev notes that the lack of local production contributes to the growth of imports.

Approximately 70% of local investors have closed their businesses due to the fall of the manat, which made unfavorable the development of private enterprise

Echo has published an article about the growth of unemployment in the country. Official statistics on unemployment is ten times smaller than the actual data. So, the financial sector has lost some 30 000 jobs, the trade sector – 20,000, and the largest loss has been in the construction sector, where 100,000 employees have been fired.

For 10 months of this year, employment agencies were addressed by 190,000 people, of which only 53,000 were provided with jobs.

The website Musavat.com has published an article about the shortage of dollars.

Because of the refusal of banks to sell dollars and euros, citizens are experiencing serious difficulties. So, operations of import and export have become paralyzed.

Banks artificially inhibit the sale of foreign currency, waiting for further USD price hike.    –0--