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Turkmenistan talks on inflation rate in country in 2017

Business Materials 2 February 2018 09:45 (UTC +04:00)

Ashgabat, Turkmenistan, Feb. 2

By Huseyn Hasanov– Trend:

The exchange rate of the Turkmen manat remained stable in 2017 compared to the indicators of 2016, and the inflation rate was controlled within the established limits, Turkmenistan State News Agency reported.

It is noted that preserving financial stability, strengthening the national currency rate, ensuring stability of the Turkmen balance of payments and bringing the relevant standards in line with international ones are the main tasks in the financial and economic sphere of the Turkmen economy.

The year 2017 was marked by the development of the e-banking infrastructure, the growth in the volume of non-cash payments, the increase in the capitalization of banks, the growth of lending to medium and small-sized enterprises, the active introduction of new types of banking services and the improvement of the quality of services.

Turkmen President Gurbanguly Berdimuhamedov at the final government meeting in December 2017 said that the Turkmen manat rate, according to forecasts, will remain stable, approximately at the level of 6 percent inflation rate.

Meanwhile, the Asian Development Bank (ADB) in September 2017 lowered its inflation rate forecast for Turkmenistan from 6 percent to 5.7 percent for 2017 and from 6 percent to 5.5 percent for 2018.

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