Turkmenistan's currency reserves up by 31.9%

Business Materials 12 July 2010 15:03 (UTC +04:00)

Turkmenistan, Ashgabat, July 12 / Trend H.Hasanov /

Turkmenistan's currency means received from exports of goods and services amounted to 131.9 percent for the first half of 2010, the Central Bank of Turkmenistan reported.

Compared to the corresponding period of 2009 this figure had grown at the expense of exports of natural gas, petroleum and petroleum products, liquefied natural gas, electricity, chemical and textile products, cotton.

In addition, there has been a growth in the monetary circulation, the central bank reported. The volume of loans directed to the manufacturing sector of the economy systematically increased.

The banking system has been actively involved in the financing of public programs related to the development of agriculture, industry, construction, and major projects to other industries.

The volume of loans allotted to the construction and purchase of residential houses in towns and villages, the development of private enterprise, also increased.

Turkmenistan carries out the second stage of the denomination made to ensure the sustainability of the national currency.

"Rate of manat against the currencies had remained stable from January to June 2010," the bank reported.

The country also works to increase the services by bank transfer, development of banking infrastructure, improvement of legislation regulating this sphere, taking the necessary measures to implement international standards in the accounting system and financial accounting.

The annual plan for the development of targeted investment is made on 62.8 percent. This figure is more by  1.3 times in accordance with the same period of 2009.

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