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 Central Bank of Azerbaijan (CBA) has approved the ‘Concept of Policy on Risk-Based Control’. This is reported on the website of the structure.
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If 2 years ago a share of local revenues in the budget of the Nakhchivan Autonomous Republic was 20-25%, by this year's end a share of local revenues will exceed 50%.
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The Central Bank of Azerbaijan (CBA) has given binding instructions to 'Azsığorta', 'Atəşgah Insurance', 'İpək Yolu Insurance', 'Xalq Həyat Insurance', 'Aqrar Insurance' and 'AzRe Təkrarsığorta'. This is reported on the CBA website.
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