Low inflation of Turkmen manat reflects high rates of economy: Turkmen President
Turkmenistan, Ashgabat, November 2 / Trend H. Hasanov /
Low inflation of national manat, steady growth of GDP, expansion of foreign economic and trade turnover, stability of prices on the domestic market of goods and services testify high rates of Turkmenistan's economic development, Turkmen President Gurbanguly Berdimuhammedow said on the occasion of the 16-th anniversary of the Turkmen manat.
"Putting into operation of the national Turkmen manat became the guarantee of Turkmenistan's economic independence. Turkmen manat has a special role in strengthening the economic and political independence of Turkmenistan."
The monetary reform - denomination of the currency is being conducted in Turkmenistan. Before, currency exchange rates were unified.
"We have put into operation denominated Turkmen manat since early 2009. It became one of the most significant events in the life of the state", the Turkmen leader said.
He said that new manat has ensured great confidence in Turkmenistan on the world market and significant growth of investments in the Turkmen economy. New manat did not only strengthen confidence in the national currency and stabilization of its rate in relation to foreign currencies."
Turkmenistan will continue to conduct flexible fiscal and monetary policy. "Each bank employee is obliged to take care of the stability of national currency, improvement of the loan policy, increase of effectiveness of cash flow, drawing of people's savings in turnover, introduction new financial methods into the banking system.
One of the leading Turkmen banks - Daihan bank said that denomination, assisting to strengthen the national currency, simplify pricing and, rather facilitate accounting and statistical reporting, directly contributes to successful Turkmenistan's integration into the global economic system.
There is definite proportionality in the dynamics of the movement of money and goods on the basis of total balance of income and expenditures of the population in Turkmenistan.
The President stressed the need to expand use of cashless payments, establishment of a wide network of ATMs, payment terminals, plastic cards together with cash payments.
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