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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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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