Press Review 26 April 2018

The development of the economy, the hindrances of online lending, the attitude towards Rasulzadeh's memory in Turkey, and the absence of a solution to overdue loans are the leading topics of today's press.

The newspaper Azerbaijan writes about today's development of the country's economy aimed at the welfare of the people. The author writes that for the first quarter of 2018 the population's incomes increased by 10% and inflation was only 4%, which is the result of successfully conducted reforms in the country.

This year entrepreneurs were granted soft loans in the amount of 170 million manat. In the first quarter of this year, the country's economy grew by 2.3%. Further, the author continues to give figures confirming the growth and development of the economy.

The newspaper Echo reflects on the topic what prevents online lending in Azerbaijan. The development of online lending is hampered in our country primarily because of the psychological and financial situation of the population and legislative restrictions.

It is extremely important to restore at least part of the old traditional form of lending. Undoubtedly, the future of banking services is in online mode. Sooner or later, Azerbaijan will come to this.

The website Azadliq.info writes that the President of Azerbaijan Ilham Aliyev did not visit the grave of Mammad Emin Rasulzadeh, one of the founders of the Azerbaijan People"s Republic (APR), whose centenary is celebrated this year. But at the same time Ilham Aliyev visited the grave of Ataturk and laid flowers there. Aliyev also visited Heydar Aliyev Park in Ankara.

The author reminds that this year was named the APR Year by Ilham Aliyev on the occasion of its centenary.

The article stresses the authorities' jealousy towards Rasulzadeh, which is why Rasulzadeh's name is not mentioned in Aliyev's orders on the occasion of the 100th anniversary of the APR.

Turkey, on the contrary, showed its respect for Rasulzadeh and Elchibey, which they were not awarded in Azerbaijan.

The newspaper Novoye Vremya writes about bad loans and lawsuits. At the same time, court verdicts in favor of banks are not able to facilitate the return of loans.

The Ministry of Justice and the Association of Banks of Azerbaijan (ABA) have created a working group on these issues. ABA currently unites 29 banks from the 30 operating in the country, as well as non-banking organizations.

Unfortunately, ABA in this case is concerned only with the implementation of court decisions. That is, the working group, apparently, was created only for these purposes.