Press Review August 7, 2018

Successes in the agrarian sector, ways to address the issue of problem loans, and the organization of financial control are the leading topics of today's press.

The newspaper Azerbaijan writes about high indicators in the agricultural sector in Goranboy region as a result of implemented large-scale projects - a substation in the village of Delimamedli, Regional Agropark, and the main irrigation canal Shemkir-Samukh-Goranboy. This year, 9.8 tons of silkworm cocoon was produced in the region, an area of ​​5,000 hectares was planted with cotton, as well as 8,000 hectares of tobacco and 18,774 hectares of wheat. Collecting wheat from one hectare was more than 30 quintals.

The Novoye Vremya newspaper writes that it is time for the Cabinet to intervene in the issue of credit indebtedness. The total amount of overdue loans in Azerbaijan has reached AZN 1 745.7 million. This is 2% more than on June 1 this year. Data on the situation in the national banking sector of the country are reflected in the regular statistics of the Central Bank of the country.

As indicated in the document, compared to the beginning of the year, problem loans increased by 7.3%, and over the past year they decreased by 3.6%. At the end of June, the share of problem loans in the total loan portfolio was 14.4%. This ratio at the end of May was 14.3%. The volume of overdue loans is an indicator of the activity of the banking sector. The loan portfolio of banks is narrowing, but the share of problem loans in it is growing. However, the return of the loans borrowed by the population largely depends on the social well-being of citizens.

The website Oxu.az discusses what should be done to ensure transparency of the budget with MP Vahid Ahmedov. He believes the time has come to pass the law "On state financial control". This law is necessary to ensure budget transparency. Each gapik must be on the account, the MP believes, and financial control is the most effective mechanism, he said. -0----