In comparison with January of last year, last month, local insurers - members of the Bureau of Compulsory Insurance (BCI) reduced the level of premiums for compulsory civil liability insurance of vehicle owners (CTP).
According to the report, this segment recorded decline by 7.8% to 4.7 million manats. The funds were collected on 56,926 contracts (minus 13.7%).
The typical policies on the new tariffs have been involved from 16 December 2011. The base fare without coefficients is set at AZN 50 and relates to cars and motorcycles of engine capacity up to 1.5 thousand cubic meters, as well as agricultural equipment. The maximum rate of AZN 250 with a factor of 5 applies to vehicles with an engine capacity of more than 5 thousand cubic meters.
Recall last year the insurance premiums under the compulsory motor insurance amounted to 76.37 million AZN. --17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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