The development of the non-oil sector, the deepening of the crisis in the banking system, and the authorities' view of criticism are the leading topics of today's press.
The newspaper Azerbaijan writes about the growing number of people wishing to invest in the country's economy, and this is due to the creation of favorable conditions. In particular, the creation of the Small and Medium Enterprise Development Agency is noted.
The article refers to the Kurdamir region and writes about the successes achieved here in the collection of cotton in 2017 and about the installation of greenhouses on an area of 50 hectares there. About 3 million manats was spent on that. The greenhouses give jobs to about 500 people.
The author also writes about the cultivation of pomegranates in the region and notes that the region is located on the Silk Road, which prompted the creation of a hotel system, and more than 3 million manats has been spent on this area so far.
The newspaper Echo published an article titled Growth of Problem Loans Leads the Azerbaijani Banking Sector to Collapse. The banking sector of Azerbaijan is in crisis for the third year. Throughout this time, banks cannot conduct their primary business - lend to the economy.
In 2017, the business remained virtually without credit, and the share of consumer loans declined to near-historic lows.
2017 clearly showed that the monetary policy of the Central Bank does not lead to anything good, and the Financial Markets Supervision Authority cannot cope with its work. The most important problem of recent years, which will lead to the collapse of the banking sector, is the growth of problem loans.
The website Azadliq.info writes about the reaction of the authorities to criticism from outside. Any criticism meets with such words as "they envy us" or "intrigues of the Armenian lobby", "the policy of double standards" and so on.
This time, the department head of the presidential staff, Novruz Mammadov, wrote a tweet about accusations of Hollywood director Weinstein of sexual harassment.
Mammadov is trying to teach a lesson of morality, trying to get an explanation from the US about how it could have happened for decades. He also says the West cannot give moral lessons to other countries if they have similar experiences. -0--
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On Sunday, December 22, changeable cloudy weather is expected in Baku and the Absheron Peninsula. Drizzle is possible during the night and morning in some areas of the peninsula. Moderate southwest winds will prevail. The air temperature will be 5-8°C at night and 9-11°C during the day, according to the National Hydrometeorological Service of the Ministry of Ecology.
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Baku, often called the "Caucasian Dubai," is increasingly known for systematic violations of residents' housing rights. During urban renovations and the construction of elegant new buildings, thousands of families in Azerbaijan’s capital have been unlawfully deprived of their homes. Many, recognizing the futility of resistance, settle for inadequate monetary compensation for their irreplaceable property. A minority, placing faith in the Housing Code, demand fair compensation from construction companies but often lose everything—both their homes and any form of recompense.
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Azerbaijani team prepares to compete in three prestigious international Olympiads The preparation of young programmers representing Azerbaijan in international Olympiads continues successfully. In collaboration with Azercell, the Ministry of Science and Education, and the Institute of Education, the latest “Informatics Camp” was held at the Baku Higher Oil School.
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Last night, three earthquakes occurred along the Armenia-Azerbaijan border with magnitudes of 4.8, 3.0, and 3.8, according to the Republican Center for Seismological Service of the National Academy of Sciences of Azerbaijan. The Ministry of Emergency Situations reported no information about any destruction or casualties as a result of the earthquakes.
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