The share of compulsory civil liability of vehicle owners to third parties (88.04%) in the field of compulsory insurance declined by 1 July compared to the same period last year. For the six months for this type of agreements concluded 439.200 (minus 5%) in the amount of AZN 32,400,000 (minus 7%).
According to the Bureau, it turned increase in the share of other types of compulsory insurance. Most insurance agents succeed in property - increase in signed contracts amounted to 21% and increase in the collected premiums was 56%, indicating that the priority of the capital's housing. Progress is being made (12 vs. 22%) and liability insurance property owners.
In absolute terms is leading individual insurance of passengers - the number of contracts increased to 3.18 times the amount of money raised - to 4.46 times. However, due to the lack of any real impact on the mechanism of private carriers, known for their proximity to the Minister of Transport, this kind of an outsider bailed out in six months only 68,060 manats at 259 contracts concluded.
According to the Ministry of Transport (http://mintrans.az/?mod=inside&lang=az&menu=116), only in Baku about 4,000 buses of various capacities operate. With an average daily plan of 100 manat (excluding regions) it is 12,000,000 manats a month.
Passenger insurance is mandatory, but the Finance Ministry has not yet any scheme to raise funds in this segment. Either there are more important things to overcome, or transportation officials do not let them do so. - 17D-
Economics
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Azerbaijan significantly increased its rice imports to 52,500 tons in the first nine months of 2024, marking a 15.1% rise in physical weight and a 33.3% rise in import value compared to the same period in 2023, according to government data. The average price per ton of rice climbed by 15.8% to $1,042.17, up from $899.77 last year, further underscoring Azerbaijan’s reliance on imports to meet domestic demand, with 85% of the country’s rice needs covered through foreign sources.
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The State Tax Service of Azerbaijan has called on businesses to conduct non-cash payments solely through POS terminals, requiring merchants to issue receipts from both the POS terminal and cash register for transparency, as part of efforts to curb card-to-card transactions outside regulated channels.
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The Green Climate Fund (GCF), an operating entity of the financial mechanism of the UN Framework Convention on Climate Change (UNFCCC) and the body responsible for implementing the Paris Agreement, has included Azerbaijan for the first time in its list of countries eligible for funding.
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The International Telecommunication Union (ITU), the Permanent Mission of the Republic of Azerbaijan to the UN Office in Geneva and the Ministry of Digital Development and Transport organized for the heads of about 30 diplomatic missions accredited in Geneva a special briefing on the initiative "Green Digital Action", which will be presented during COP29 in November in Baku, the Ministry of Digital Development and Transport of Azerbaijan reported.
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