Press Review May 21, 2018

The launch of a new phase of innovative reforms, the impact of oil prices on the economy of the country, and the ways to protect farms from risk are the leading topics of today's press.

The newspaper Azerbaijan writes that President Ilham Aliyev has embarked on a new stage of innovative reforms. It also reports on the contribution of the President"s development concept to the economic growth.

The creation of a mechanism for joint control over imports and exports under the Ministry of Taxes with the participation of the State Customs, the Ministry of Finance, the Ministry of Taxes and the Ministry of Economy is among the innovative reforms. The purpose of creating this department is to ensure transparency of accounting and to promote fiscal policy of the state.

The newspaper Echo leads an interview with the MP Rufat Guliyev on the value of the manat and the price of oil, which can distract from the development of the non-oil sector. The current increase in prices for hydrocarbons is associated with both economic and international political factors, including events in Syria, Iran, and the United States.

As for the development of the non-oil sector, no case has ever been recorded in the world energy history that a country whose economy has for many years been kept by hydrocarbon exports has been able to move away from the dependence on raw materials and to completely switch to the development of other industries just in one or two years. This has never happened and this is impossible. Here there are regularities. Azerbaijan will not be able to fully reduce its dependence on oil in the next five years, maybe even 10 years.

The newspaper Yeni Musavat discusses how to protect farms from risks, since this issue is becoming more urgent. Among the risk factors are weather conditions, which over the past few days have dealt a serious blow to agriculture. Nevertheless, the farmers did not receive any aid and the matter was not even investigated or made public. In general, the issue of the agrarian sector insurance is not discussed in the country, and insurance companies do not show interest in this sphere.

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