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
-
According to data released by the State Statistics Committee, Azerbaijan’s agricultural sector achieved slight production growth in the first eight months of 2024. The total volume of agricultural production reached 8.723 billion manats, which is 0.8% higher than during the same period last year. However, this growth occurs against a backdrop of increasing food imports, despite significant government subsidies aimed at supporting domestic agriculture.
-
Azerbaijan has unveiled strong fiscal indicators for the first eight months of the current year, reporting a state budget surplus that underscores the country’s economic resilience amidst global uncertainties. According to operational data released by the Ministry of Finance, state budget revenues from January to August 2024 reached 25 billion 223.4 million manats, while expenditures amounted to 22 billion 362.4 million manats.
-
Azerbaijan has made significant progress in diversifying its energy balance, with renewable sources playing an increasingly important role in the country's electricity production. Operational data for January-August 2024 show that total electricity generation reached 19,235.4 million kilowatt-hours (kWh), marking a noticeable shift towards greener energy.
-
Bilateral relations between Azerbaijan and Russia are accelerating, particularly in the agricultural sector, as Deputy Prime Minister Shahin Mustafayev and Russia’s Minister of Agriculture Oksana Lut underscored during their high-level meeting on September 13 in Baku.
Leave a review