In August 2016 there were registered 93,355 contracts on compulsory motor third party liability insurance, according to the Compulsory Insurance Bureau. Turan said 14,062 of these contracts accounted for insurance of cars with a foreign registration, using the territory of Azerbaijan for transit.
During this period, total insurance premiums on standard and border insurance contracts amounted to 7.4 million AZN.
Compared to July 2015, there was recorded an increase of 4.7% in the number of insurance contracts, and the insurance payments increased by 2.6%.
In August 2016 insurance companies increased the payments on compulsory motor insurance in comparison with August 2015 by 33% (2,493,616 AZN).
Payments were made in 1,986 insurance cases. ----72D
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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