Press Review - April 25, 2018

Acceleration of industrial development, possible impact on the manat in the transition of foreign trade operations to the national currency, and financial indicators of the banking system are the leading topics of today's press.

The newspaper Azerbaijan writes about the acceleration of the country's industrial growth, which is one of the results of the reforms. In support the author quotes Ilham Aliyev at his inauguration - "only a country with a strong economy can pursue an independent policy."

Further the author gives statistical data and reports on industrial parks in the country.

The Yeni Musavat newspaper talks about what will happen to the manat if the neighboring countries switch to the national currency in trade operations. The refusal of USD is suggested more and more often in the neighboring countries, and there are such proposals in Azerbaijan. In particular, if we are talking about Iran and Turkey, then there is no danger, since Azerbaijan has a negative trade balance with both of them.

The website Marja.az tells about the problems of Mugan Bank, evaluating the bank"s performance. The bank completed the first quarter of 2018 with a loss of 1 million 824 thousand manat. The author gives detailed digital data on the bank, as well as a drop in its lending.

So, as of March 1, 2018, the loans to customers amounted to 342 million 613 thousand manat, while at the end of 2017 this amount was 349 million 71 thousand manat. -0--