Press Review August 9, 2018

Providing the country's population with work, the rise in certain duties and fees, and the possibility of pressure on the manat are the leading topics of today's press.

The newspaper Azerbaijan writes about the problem of employment of the population. The author notes that concessional loans worth over 2 billion manat were allocated for economic development and opening new jobs.

At present, unemployment in the country is 5% and this is a very good indicator.

The author quotes the statement of the head of state on the implementation of the self-employment program. If annually 6-7 thousand people are involved in it, then in a few years the need for social assistance will disappear.

The author also speaks about the problem of informal employment, which creates considerable social problems, since those who are engaged in informal labor cannot subsequently receive a decent pension.

The newspaper Novoye Vremya in the article Prices Soar, Jobs Scarce writes about the increase in import duties on cars, mobile phones, property, state duties for driving licenses, and excise stamps. At the same time, the government claims that it seeks to open new jobs.

But as a result of this, trade objects will lose a significant part of their income. This is also likely to lead to staff cuts. The decision on cars can lead to increase in quotations on cars.

In other words, the government's actions will lead to higher prices, and the army of the unemployed will grow.

The website Marja.az discusses the situation in connection with the depreciation of currencies in Russia, Iran and Turkey. It seems speculative pressure on manat, although for today it is not strong. In this connection, the author quotes the statement of the Chairman of the Central Bank Elman Rustamov about "serious threats" to the manat: these are changes in the exchange rates of the trading partner countries, as well as inflation in these countries. At the same time, the author notes that the depreciation of the currencies in the partner countries and the stability of the manat reduce the possibility of Azerbaijan's exports. -0--

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