Press Review - June 12, 2018

The newspaper Azerbaijan writes about the strengthening of social protection of the population. The author recalls several documents signed in 1994 by Heydar Aliyev in this field. In 1998, pensions were raised more than twice, including forced migrants, refugees, war invalids, and all this was spent 170 billion manat.

As of April 1 of this year, social benefits were assigned to 398.6 thousand people. According to statistics, as of May 1 this year the number of economically active population was 5 million 83.3 thousand people, of which 4 million 830.6 thousand are employed population.

The Yeni Musavat newspaper writes about the fate of deposits in closed banks, saying that depositors cannot return their deposits if they are not protected.

The process of closing weak banks will continue this year too. The author cites data on closed Standard Bank. The population has not been able to receive 157 million manat from this bank, and companies have not got their 400 million manat. Closed banks, experts say, keep uninsured deposits worth 2 billion manat.

The newspaper Novoye Vremya writes about dependence on USD and the public mistrust of the national currency, AZN.

The population continues to invest in US dollars, which can lead to an increase in demand for dollars.

Given the losses of many banks, one can say that the banking system does not improve, despite the promises of the head of the National Bank Elman Rustamov.

Relative stability of the exchange rate of the domestic currency against the dollar cannot guarantee a reduction in USD dependence. -0----