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Turkmenistan increases volume of loans issued to economic entities

Finance 19 January 2022 14:21 (UTC +04:00)
Turkmenistan increases volume of loans issued to economic entities

BAKU, Azerbaijan, January 19

By Amina Nazarli - Trend:

The volume of loans issued by credit institutions of Turkmenistan to enterprises, organizations, and citizens amounted to 77.199 million manats ($22.09 million), as of December 1, 2021, which is 10.8 percent more than in the reporting period 2020 (69.729 million manats - $19.9 million), Trend reports citing Business Turkmenistan news agency.

Also, the volume of loans issued by credit institutions of Turkmenistan to state-owned enterprises and organizations increased by 4.7 percent totaled $15.5 million compared to the same period in 2020 ($14.7 million).

Moreover, the volume of loans issued by credit institutions of Turkmenistan to non-state enterprises and organizations amounted to 8.46 million manats ($2.4 million), which is 56.5 percent more than the same period in 2020 ($1.47 million).

The total amount of loans issued to citizens and non-state entrepreneurs amounted to 15.129 million manats ($4.32 million) as of December 1, 2021, which is 16.7 percent more than in the same period of 2020 ($3.7 million).

In December 2021, Turkmen President Gurbanguly Berdimuhamedov signed a resolution on organizing measures to mitigate the impact of global economic complications on the country's economy, approving the relevant Program for 2022 and the Action Plan for its implementation.

It also includes measures to provide state assistance to small and medium-sized businesses, actively attract foreign investment, strengthen population social security, and improve people's social and living conditions.

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