In July there were signed just over 99,307 contracts in the framework of mandatory liability of vehicle owners (CTP). Of these, 21.55% are contracts for foreign and transit transport.
According to the Bureau of Compulsory Insurance, the aggregate amount of premiums on policies of this segment is more than 7.8 million manat. Average premiums for this type of compulsory insurance services for the past month were at 79.26 manat (+AZN 2.34 in July of last year).
For seven months this type of insurance concluded more than 515,700 contracts worth 38.07 million manat. It's little, considering the fact that Azerbaijan has registered 1.2 million vehicles. - 17D-
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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