Turkmenistan keeps stable rate of manat against currency
Turkmenistan, Ashgabat, Aug. 18 / Trend H.Hasanov /
Turkmenistan remained stable rate of manat against foreign currencies since early this year, the Central Bank of Turkmenistan (CBT) said
The volume of assets of commercial banks increased compared to 2009, private contributions and credit activity of the banks increased.
After President Gurbangulu Berdimuhammedov come to power in 2007, the Constitution ran an article about the transition to a market economy. The state carried out a unification of exchange rates and denomination of national currency.
At the latest governmental meeting, Berdimuhammedov noted that at the present stage the country's banking system "developed in the underserved level".
"Especial attention should be paid to issues of implementation of investment policy." The Turkmen leader emphasized the need to adopt appropriate measures to address existing deficiencies.
The CBT reported that, related work to support small and medium-sized businesses was done under the decision "On the financing of entrepreneurial activity in Turkmenistan ". The country continues to issue mortgage loans to citizens living in rural areas for housing.
"The Central Bank should actively participate in the financing of priority national investment projects and strengthen the activities of banks lending the production sectors of the economy," Berdimuhammedov said.
Berdimuhammedov instructed to take measures to increase the investment funds of banks, hold work to ensure repayment of loans in a timely manner to further strengthen the stability of the national banking sector.
Do you have any feedback? Contact our journalist at: [email protected]