Press Review - July 18, 2018

The growth of foreign investment in the country's economy, the possibility of manat transition to a "floating rate" and the consequences of this, and the rise in price of chicken and eggs are the leading topics of today's press.

The newspaper Azerbaijan writes about the growth of foreign investments in the country. The reason for this is a well thought-out policy that ensures the development of the country's economy.

The positive results of the reforms also play a role. Currently, the country's foreign trade surplus exceeds 4 billion dollars. Exports have increased by 34%. The author also tells about the latest oil and gas projects, in particular, the Southern Gas Corridor, TAP and TANAP.

The Novoye Vremya newspaper writes that the Central Bank again threatens to introduce a floating rate of the manat. The Central Bank has completed 69% of its strategic road map activities.

Since 2020, Azerbaijan will introduce a full transition to the floating rate of the manat, when the rate will be determined only by market laws of supply and demand.

To keep the manat afloat on a monthly basis, the Oil Fund sells $ 300-350 million at auction. About 4 billion dollars is spent on this every year. Now the weakening of the manat helps the economy to adapt to the changed conditions, supports the growth of exports, and creates conditions for import substitution. "We still have 2 more years; what will happen to the economy after that and the fate of the manat is unknown.

The website Bizimyol.info writes that chicken and eggs have risen sharply. So, at the beginning of summer 1 kg of chicken meat cost from 3.80 to 4.50 manat, but now the price has risen to 6 manat.

While at the beginning of summer eggs cost 8-9 gapik, now they are 14-16 gapik. Experts attribute this to a rise in the price of fodder for chickens.

Broiler farms import 80% of the feeds from abroad. Increase in the cost of feeds leads to higher prices for eggs and chicken.