Press Review August 8, 2018

President Ilham Aliyev's foreign trips, the growth of customs duties, the fall in the national currency of neighboring countries and the possible impact of this on Azerbaijan are the leading topics of today's press.

The newspaper Azerbaijan assesses the foreign visits of the President of Azerbaijan Ilham Aliyev. According to the author, the foreign policy pursued by the country is well thought out and multi-vector.

The last 7 months have been successful in terms of implementing foreign policy priorities. The foreign visits carried out during this period, including participation in major international events, gave impetus to even closer cooperation and strengthening of multilateral relations.

The newspaper Novoye Vremya published an article Reforms Being Replaced by Increase in Duties. Since September 5, 2018, new tariffs for customs clearance of goods and vehicles imported into the country will come into force in Azerbaijan.

Changes will affect customs duties on goods and vehicles under the customs procedure (except for transit customs procedures).

The Cabinet reduced all the reforms to increase all kinds of duties and prices of food, as well as types of services. It turns out that the hopes of the population for carrying out economic reforms by the new government were not justified.

The Strateq.az website discusses with the economist Vugar Bayramov the issue of the fall in the rate of the national currencies of neighboring countries and the possible impact of this on Azerbaijan.

Today, in Turkey, 1 USD costs 5.27 TRY, in Iran the rate of the rial falls sharply and "dollar fever" has begun, and the euro / dollar rate decreases after the macroeconomic indicators in 18 countries of the Euro zone were released.

The State Oil Fund of Azerbaijan for 7 months of this year sold dollars 1.8 times more than last year.

The fluctuations of the Russian ruble influence the exchange rate of AZN.

Against this background, the Central Bank is not in a hurry to transfer to the completely floating exchange rate of the manat.

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