The volume of payments by the Bureau of Compulsory Insurance (BCI) this year will grow by about three times compared to last year and will reach more than 20 million manat.
According to the report of the organization, compensation insurers of all cases of compulsory insurance of vehicle owners to third parties (CTP) from January 1 to May 31 totaled 8 million 992.3 thousand manats (for all of last year - 6 million 823 63 thousand manat).
Financial compensation affected 6 thousand 458 cases and on 230 cases more documents on payments are pending.
According to the management office, the continuing trend will lead to a threefold increase in payments. - 17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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