Press Review 20/12/2016

Improvement of the legal framework of reforms, the crisis in the banking sector, the reasons for the withdrawal of foreign companies from Azerbaijan, more expensive products, indifference to the death of oil are the themes of today's media.

The newspaper Azerbaijan writes on the improvement of the legislative framework for economic reforms. In drawing up the budget, the author notes, they take into account the processes, as well as a sharp drop in oil prices occurring in the world.

It is also noted that the priority is the social orientation of the budget, where social spending accounts for 40% of the total expenditure.

The author writes about the adoption of new laws and changes in tax laws, which became an integral part of the new macroeconomic environment.

The website Azadliq.info writes about the death of 40 oilmen and asks who is responsible for their deaths. The author reminds all cases of oilmen’s killing and the search for the missing recently. At the same time, the author notes that the measures had to be taken in time. And now, no helicopters could help in finding the missing oil workers.

Novoye Vremya writes about the banking crisis. The Financial Markets Supervision House plans to reduce the number of banks with a view to healing the whole system. However, this will be one of the causes of unemployment.

Bizim Yol writes that the high cost forces people to give up eating meat. The rapid rise in prices makes unavailable a number of foods. Meat and meat products are among the most expensive and inaccessible.

The website Musavat.com says that foreign companies are leaving Azerbaijan and discusses this situation with an expert Natig Jafarli. According to him, one of the main reasons is economic slowdown in the country and the lack of improvement of the investment climate. In 2015 Azerbaijan was left by 64 foreign companies, and for 6 months of 2016 – by 45.