In the first nine months of 2016 charges from 25 insurance companies amounted to 390 million manat, which compared to the same period last year is 15.1% (51 million manat) more, according to the Financial Markets Supervision House.
The insurance payments for the reported period amounted to 167 million manat. This compared with last year is 31% more.
During the first 9 months of 2016, voluntary insurance premiums increased by 18.7%, and payments increased by 32.2%, reaching respectively 250.8 million and 125.4 million manat.
Compulsory insurance fees increased by 9%, and payments increased by 27.7% to 140 million and 41.5 million manat respectively. ----71D
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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