In March, the local insurance companies - members of the Bureau of Compulsory Insurance (ISB) within the civil liability of owners of vehicles (CTP), paid 1,209,660 AZN on 1,015 insurance cases.
According to the information on the website of the organization, 926 facts were related to damage to the vehicle (paid 1.06 million manat), 40 cases - health damage (51 000), 36 cases - damage to property (38 280) and 13 cases – death in an accident.
13 deaths during road accidents were paid 64,000 manat. In the State Road Police of Azerbaijan, they told Turan that for the last month in 86 people were killed in accidents. This means that there are gaps in the implementation of legislation linking the compulsory insurance with road traffic, experts say.
According to the Head of the Azerbaijan State Road Police, Police Colonel Kamran Aliyev, no vehicle can pass inspection without insurance policies on CTP (by one of the 12 members of ISB), therefore, mandatory liability to the third person extends to almost all car owners. Why, then, was the compensation paid on 13 facts at the death of 86 people during a crash? -17D-
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review