In October the Association of Insurers of Azerbaijan (AIA) intends to conduct "literacy courses" for those interested in agricultural insurance still believed disadvantaged and unpopular.
The structure of the Ministry of Finance has already started talks on this issue with the International Finance Corporation (IFC), the head of the AIA Orkhan Bayramov told reporters.
"The joint seminar is likely to be held by specialists of the World Bank," he said.
This high demand for this poorly studied segment will significantly increase the premium of insurance companies. Meanwhile, in January-August the current insurers collected premiums of 312,840,000 manats (+10.4% to 1 September of the previous year).
Disbursements during this period amounted to 116.16 million manats (+ 12.2%). That is, every 100 manats of premiums account for 37.1 manat of payments (as of September 1, 2014 it was 31 manats).
Orkhan Bayramov believes that the total volume of insurance premiums by 31 December for the first time will reach half a billion manat (+16.5% at the end of last year - 429.2 million).--17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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