CTP, as expected from the beginning of the year, was the most productive source of income of the Bureau of Compulsory Insurance. In January-September, the information system recorded a total of 685,528 contracts related to the civil liability of vehicle owners, which collected about 47.3 million manat of premiums.
As reported by the Bureau, in September on 72.9 thousand contracts 6 million manat was received. This was composed of 19.54 thousand contracts related to foreign cars, transit passing through the territory of Azerbaijan.
Recall that in the previous eight months the information system took into account, a total of 628.7 thousand contracts. - 17D-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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