By 1 November, 1,686 contracts in electronic form on compulsory insurance of liability of owners of vehicles (TPL) were registered, the Bureau of Compulsory Insurance said.
323 of these agreements relate to vehicles in transit, passing through Azerbaijan.
The total amount of insurance payments on compulsory motor TPL insurance totaled 124,065 manat.
Note that since November 1, 2016 MTPL policies in Azerbaijan have been issued only in electronic form. If the insurance company's website has organized online sale of insurance policies, the contracts can be purchased directly; if not, you can contact the company and provide it with the data necessary for the acquisition of the contract. After that, the insured person receives a text message with the number 9707, which indicates the billing code, and the same message comes by e-mail. After payment of the sum insured the contract enters into force. The payment can be made in a bank, a post office, payment systems on the Internet, and payment terminals of banks. ----71D
Economics
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The EBITDA (earnings before interest, taxes, depreciation, and amortization) of the State Oil Company of Azerbaijan (SOCAR) has been declining in recent years, as reflected in reports by international rating agencies and the company’s own financial statements. SOCAR’s financial report for 2024 is expected in the summer of 2025, but preliminary data from Fitch Ratings indicates a further decline in the figure.
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Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
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U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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