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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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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