"Paper" should really be choice (as it is in a bunch of other languages here), because at least in the U.S., we always say, "Are you reading the paper?" or "Pick me up a copy of the Sunday paper."
The 'drop down' lists 'magazine' as an acceptable translation, but when you enter it, only 'newspaper' is acceptable.
@danielmokmad is right that it's the singular version.
But to answer what may be your point, yes, it could also refer to not being a newspaper reader (habitual) rather than just not reading the newspaper at the current moment.
But in that case wouldn't you use the habital tense ?
Mimi husoma gazeti. - I usually read the newspaper.
Mimi huwa sisomi gazeti. - I usually don't read the newspaper.