Aydin Rahmanov has become the head of the Board of Trustees of the Bureau of Compulsory Insurance (ISB – the local abbreviation – ed.).
The Chairman of the Board of Standard Insurance Company succeeded Kamal Ibrahimov, who resigned at his own request, the website of ISB said.
The decision was adopted by the participants at the extraordinary meeting of the ISB offices held the day before. In addition to the main issue, the agenda included information about activities of the organization this year, issues of cooperation with Audatex, the abolition of the "Rules of permission to connect to the information system of the ISB through the site," targets for 2015 and so on.
Participants of ISB are 15 of the 27 existing insurance companies. --17D-
Economics
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According to data released by the State Statistics Committee, Azerbaijan’s agricultural sector achieved slight production growth in the first eight months of 2024. The total volume of agricultural production reached 8.723 billion manats, which is 0.8% higher than during the same period last year. However, this growth occurs against a backdrop of increasing food imports, despite significant government subsidies aimed at supporting domestic agriculture.
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Azerbaijan has unveiled strong fiscal indicators for the first eight months of the current year, reporting a state budget surplus that underscores the country’s economic resilience amidst global uncertainties. According to operational data released by the Ministry of Finance, state budget revenues from January to August 2024 reached 25 billion 223.4 million manats, while expenditures amounted to 22 billion 362.4 million manats.
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Azerbaijan has made significant progress in diversifying its energy balance, with renewable sources playing an increasingly important role in the country's electricity production. Operational data for January-August 2024 show that total electricity generation reached 19,235.4 million kilowatt-hours (kWh), marking a noticeable shift towards greener energy.
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Bilateral relations between Azerbaijan and Russia are accelerating, particularly in the agricultural sector, as Deputy Prime Minister Shahin Mustafayev and Russia’s Minister of Agriculture Oksana Lut underscored during their high-level meeting on September 13 in Baku.
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