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Economical news
Bulletine Economics 

2017 October 17 ( Tuesday )  17:41:37
Print version
Русский Azərbaycan


State Statistics Committee Does Not Inform on Structure of Specialization in Employment Sphere - Expert

The number of students and places offered in universities is growing every year, but there are no official data to determine the degree of correspondence between the level of education received and the professional and job status of workers in the labor market.

A record number of students, 37.5 thousand were accepted in the universities of Azerbaijan in 2017. Every year, the increase in the number of places in universities increases the chances of entrants, officials report. Thus, the number of places offered in universities in 2016, compared with the previous year, increased by 7.5% or 2,905 places. For comparison, in 2010, according to the plan, 30,510 places were allocated, in 2011 - 31,419 places, in 2012 - 34,098 places, in 2013 - 36,537 places, in 2014 - 37,841 places, in 2015 - 38,831 places, and finally, in 2016 - 41,736 places. According to the State Statistics Committee for 2016 - 2017 academic years, there were 163,779 students enrolled in 51 universities of the country, and there were 23,814 students in 112 vocational schools.

Where do graduates of local universities get a job and can they find a place in their specialty? What is the demand for graduates?

"Unfortunately, there is no institute of statistics in Azerbaijan that can disclose such figures. Judging by the official information of the Russian State Statistics Committee, 17.1% of specialists with higher education work in leading positions in the Russian Federation, 55.8% are distributed in specialties requiring high special training, 10.4% in specialties requiring specialized training, and only 16% - in different sectors, where high specialization is not needed. Up to a third of people with higher education work in the agro industry, as well as in technical and technological specialties," the economist Rovshan Agayev said.

From his words, the analysis of the professional and job structure makes it possible to assess the demand for education and professions, as well as the degree of correspondence between the level of education and the professional and official status of employees.

"If we imagine the number of graduates who have not been able to find a job in the specialty or who work in other fields for years, one can assume how valuable it would be to introduce the position of the specialization structure in the field of employment into statistics," Agayev said.

The question arises: what is the reason for the growth in the number of places offered in higher educational institutions of Azerbaijan? How are the needs of the economy and the effectiveness of universities assessed? For example, in the Russian practice when allocating budgetary places, in addition to the potential of the university, calculated on the basis of its performance indicators, data on the employment of its graduates on the basis of information from the Ministry of Labor are taken into account.

It is important to note that Russia today is making significant efforts to reorient the education system to the needs of economic development, to train professionals who are really needed in the industrial and social sector, because this is a pledge for demand for graduates, and the dynamic development of production. Cooperation of universities and enterprises has long been, as they say, in the trend of the educational policy of the neighboring country. -0-

General US Assistance to Azerbaijan Amounted to $ 1.3 Billion over 25 Years

Baku / 17.10.17 / Turan: "Our cooperation with the Azerbaijani government in the economic sphere is quite strong," said US Ambassador Robert Cekuta at a business luncheon organized by the US-Azerbaijan Chamber of Commerce.

The Ambassador said that over the past 25 years, the United States assisted Azerbaijan in the amount of $ 1.3 billion, including $ 120 million of humanitarian aid provided to internally displaced people.

R. Cekuta said the US supports the government"s efforts to diversify the non-oil sector.

"American companies in Azerbaijan are involved in the sectors of retail trade, consulting services, agriculture, consumer goods, aviation, engineering, software, and other sectors," the Ambassador said.

He said that information tours in the US for Azerbaijani farmers were organized to familiarize them with American agricultural technology.

Among other assistance the U.S. Ambassador pointed to the support of small and medium entrepreneurs in the use of financial resources and credit guarantees to local banks issuing loans to farmers, co-operation with the Transit Board Web portal company, controlling incoming and outgoing goods, and other work.

R. Cekuta noted that for the successful competition in the world, to support the implementation of the plans of U.S. companies to continue working in Azerbaijan, three factors should be specially noted.

"First of all, it is the development of transparency and the improvement of the flow of information. Secondly, it is important to continue the fight against corruption. Illegal payments and other types of corruption reduce the credibility of enterprises and forces foreign investors to change their minds. The third important factor is to ensure the rule of law," he said. ----71D--

Beer Season Closed

Baku / 17.10.17 / Turan: The active season of beer consumption in Azerbaijan is over. The statistics speak about the improvement of production indicators, which in turn testifies to an increase in the consumption of this light alcoholic beverage in a country, where approximately 90% of the population is Muslim, according to official data.

According to the State Statistics Committee, in the first nine months of this year 37 million 454 thousand liters of beer was produced, which is 36.3% more than the same period of 2016. After the increase in tariffs for drinking water and its runoff in May last year, the main players of the market, in particular, Carlsberg Azerbaijan, which owns the Khirdalan brewery, said these tariffs do not suit the producers and could negatively affect production performance.

It is noteworthy that, according to the results of 2016, the volume of beer production, the main raw material of which is imported from abroad, decreased by approximately 10 million liters and amounted to 4 million 197 thousand liters. Of these, 37.8 thousand liters accounted for the Absheron region. There are three beer factories, including Baku Beer OJSC, owned by Carlsberg Azerbaijan LLC.

The highest production of beer in Azerbaijan was registered in 2014 - 52.1 million liters. Consumption of beer with imports (3 million 740 thousand liters, $ 3 million 951 thousand) is approximately 4.8 liters per capita.

Beer in Azerbaijan is also produced by Baku-Prague LLC, Carlsberg Azerbaijan LLC, Hado LLC, Azeri Company, Zeynalabdin-94 Firm, Emil-N Production and Commercial Company, Khirdalan-AII LLC, LLC MVF, Ipek Yolu Company, LLC Yevlakh-Gida, LLC Acalov, LLC Nihad Sirketi, etc.

Beer in Azerbaijan is imported by three companies: LLC Ilsin-I, LLC Veyseloglu and LLC Carlsberg Azerbaijan. ---08B

Banks Have Liquid Debts of AZN 6 Billion

Baku / 17.10.17 / Turan: Banks have more than 6 billion manats of short-term and long-term liquid funds, the President of the Association of Banks of Azerbaijan (ABA) Zakir Nuriyev told journalists.

Nuriyev believes that by the end of 2017 - in 2018 the credit activity of banks will increase.

He noted that currently there is a process of reducing the rates for deposits attracted in the national currency.

Nuriyev, positively assessing the consolidation in the banking sector of the country, noted that such discussions on the banking market have always been.

"Recently, this discussion has become more active and the ABA supports negotiations in this direction.

"We want them to continue their activities, so we support the merging of banks," Nuriyev said. ----71D

The dollar and the euro fell slightly

Baku / 17.10.17 / Turan: At the currency auction of the Central Bank of Azerbaijan on Tuesday, the dollar rate slightly decreased from 1,7003 manats to 1,7001 manats. Commercial banks sell American currency for 1.7030-1.7080, and buy in the range of 1.6850-1.7000 manats.

The euro exchange rate also slightly decreased, from 2.0080 manats to 2.0028 manats. In commercial banks, the euro can be bought in the range of 2.0165-2.0289 manat, and sell for 1.9627-2.0020 manats. -71D-

Capital Bank Receives Huge Profit

Baku / 17.10.17 / Turan: According to the results of three quarters, the net profit of OJSC Capital Bank amounted to 57.6 million manat. The bank has kept another 47.6 million manat as a reserve for possible losses of loans totaling 1 billion 220 million manat given out to customers.

In January-September, Capital Bank raised AZN 291 million on credit and other operations. Net interest profit totaled AZN 131.8 million. The bank paid about 16 million manat to the state budget in the form of a profit tax, the financial report says.

As of October 1 of this year, the assets of OJSC Capital Bank exceeded 3 billion manat. In the bank's cash accounts there is over 274 million manat. It has placed about 237 million manat in securities. The volume of attracted deposits exceeds AZN 2.2 billion.

Over the past three years, Capital Bank paid dividends of 3.50-4.20 manat for each share.

The bank"s shareholders, the main of which Pasha Holding LLC is with 99.87% of the shares, own 286.7 million manat in the banking capital. Of these, over 185 million manat is paid-up authorized capital. -----08D--

Foreign currencies rates fixed by Central Bank

1 ABŞ dollarıUSD1.7003
1 AvroEUR2.0028
1 Avstraliya dollarıAUD1.3341
1 Argentina pesosuARS0.0981
1 Belarus rubluBYN0.8667
1 Braziliya rialıBRL0.5361
1 BƏƏ dirhəmiAED0.4629
1 Cənubi Afrika randıZAR0.1275
100 Cənubi Korea vonuKRW0.1502
1 Çexiya kronuCZK0.0777
100 Çili pesosuCLP0.2746
1 Çin yuanıCNY0.2575
1 Danimarka kronuDKK0.269
1 Gürcü larisiGEL0.6853
1 Honq Konq dollarıHKD0.2178
1 Hindistan rupisiINR0.0262
1 İngilis funt sterlinqiGBP2.2538
100 İndoneziya rupiasıIDR0.0126
100 İran rialıIRR0.0045
1 İsveç kronuSEK0.2095
1 İsveçrə frankıCHF1.7405
1 İsrail şekeliILS0.486
1 Kanada dollarıCAD1.3567
1 Küveyt dinarıKWD5.632
1 Qazaxıstan tengəsiKZT0.0051
1 Qırğız somuKGS0.0248
100 Livan funtuLBP0.1127
1 Malayziya rinqqitiMYR0.4026
1 Meksika pesosuMXN0.0891
1 Moldova leyiMDL0.0978
1 Misir funtuEGP0.0964
1 Norveç kronuNOK0.2148
100 Özbək somuUZS0.0211
1 Polşa zlotasıPLN0.4737
1 Rusiya rubluRUB0.0297
1 Sinqapur dollarıSGD1.2546
1 Səudiyyə Ərəbistanı rialıSAR0.4534
1 SDR (BVF-nun xüsusi borcalma hüquqları)SDR2.4049
1 Türk lirəsiTRY0.4659
1 Tayvan dollarıTWD0.0563
1 Tacik somonisiTJS0.1932
1 Yeni türkmən manatıTMT0.4858
1 Ukrayna qrivnasıUAH0.0641
100 Yapon yeniJPY1.5163
1 Yeni Zelandiya dollarıNZD1.2178