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Turkmenistan to strengthen control over use of state loans

Finance Materials 6 July 2020 16:05 (UTC +04:00)
Turkmenistan to strengthen control over use of state loans

BAKU, Azerbaijan, July 6

By Jeila Aliyeva - Trend:

President of TurkmenistanGurbanguly Berdimuhamedov instructed Deputy Prime Minister Gadyrgeldi Mushshikov and the heads of relevant structures to strengthen control over the use of state loans, Trend reports with reference to Business Turkmenistan information portal.

In general, the president ordered to take measures to achieve financial stability in the economy.

Thus, the head of state gave instructions to conduct a systematic analysis of the economic benefits and consequences of providing loans for various economic sectors.

The president highlighted the necessity of ensuring the inflow of foreign investments on favorable terms.

The head of the state also instructed to allocate funds on construction of housing for the needy layers of the population in each district and city next year.

Turkmenistan's GDP increased by 5.9 percent for 1H2020, compared to the same period last year.

Manufacturing of various production increased by 4.4 percent, and the volume of retail trade from January through June 2020 increased by 13.8 percent, both compared to the same period last year.

Also, the average monthly wage increased by 10.5 percent, also compared to the same period of last year.

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