Azerbaijan raises agricultural insurance payments by nearly 3 times
In the first half of 2024, the Agricultural Insurance Fund paid 2.8 million manats.This is reported by the Fund.
The report says that this is up by 2.5 times from the same period of 2023.
In January-June, 2.2 million manats of insurance payments were paid out for crop production, and 0.6 million manats for livestock insurance.
Over the past year, payments for acreage have grown by 3 times, and for livestock farms - by 43%.
Recall that in Azerbaijan 50% of agricultural insurance premiums are paid by the state. As a result, farmers can insure their farms against numerous risks for a small fee.
Finance
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The main reason for the sharp - 2.6 times as compared to the same period of 2023 - rise in foreign currency sold by the State Oil Fund (SOFAZ) in January-October 2024 is the needs of the state. Expert economist Rovshan Agaev said.
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The Central Bank of Azerbaijan has issued an official warning to the Baku Stock Exchange (BSE). This is reported on the CBA website.
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As of the end of June 2024, the 'Mortgage and Credit Guarantee Fund' had deposits in Azerbaijani banks in the amount of AZN 4.6 million. This is reported in the semi-annual financial statements of the Fund.
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The Central Bank of Azerbaijan (CBA) has issued a licence for currency exchange activity (‘Exchange’) to 'Money Shop' company.
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