The Bureau of Compulsory Insurance (CIB) in November gathered in the framework of compulsory insurance of civil liability of vehicle owners (CTP) 6.1 million manats (minus 0.1% to November 2014). According to the information, this amount is the result of conclusion of 73,885 contracts (minus 5.5%).
Overall, from January to December, it collected 71 million manats (9%) for 899,857 contracts concluded (+5%),
Selling insurance policies on CTP began on December 16, 2011 after the establishment of the new tariffs. The basic rate (for vehicles with an engine capacity of 1500 cub. cm) is 50 AZN. The following are the coefficients (1.5 to 5) with an increase in engine size. The maximum rate is valid for vehicles with an engine capacity of more than 5 thousand cub. cm., for which the owner pays 250 manat per year.
Owners of buses and minibuses with the number of seats from 9 to 16 pay 150, and with more than 16 seats - 200 manat.
Motorcyclists, tractor owners and other agricultural machinery pay 50 manat. --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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