In the first half of the year within the framework of compulsory insurance of civil liability of vehicle owners (CTP) there were about 476 thousand contracts (+ 14% to July 1 of the previous year), totaling 36.4 million manats (+ 20%). Recall, in Azerbaijan there are about 1.3 million vehicles of various modifications, i.e. agreements covered 36.7% of the local fleet.
According to the Bureau of Compulsory Insurance (BCI), only in June CTP insurance attracted 78,396 vehicle owners, 17.6% or 13,759 of which were foreign nationals who own cars in transit. The total volume of vehicles involved in the insurance, increased by 13%, while the June premiums on this type of insurance for the year rose by a quarter, amounting to 6.3 million manats. --17D-
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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