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Turkmenistan providing more loans to state institutions

Finance Materials 26 May 2023 15:01 (UTC +04:00)
Khayal Khatamzadeh
Khayal Khatamzadeh
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BAKU, Azerbaijan, May 26. The balance of credit funds issued by credit institutions of Turkmenistan to state institutions and enterprises as of April 1, 2023 amounted to 57.93 billion Turkmen manats ($16.53 billion), Trend reports.

The Central Bank data shows that these figures are 6.6 percent higher than the same date last year (54.35 billion Turkmen manats or $15.51 billion).

The total amount of loan balances issued to non-state enterprises and organizations of the country at the beginning of April this year amounted to 11.94 billion Turkmen manats ($3.4 billion), which is 25.1 percent more than in the same period of 2022 (9.54 billion Turkmen manats, or $2.72 billion).

The financial sector of the country is experiencing continuous growth and development. Notably, there is a progressive introduction of mobile applications for convenient payment of a wide range of services and products.

Moreover, there has been a noticeable surge in non-cash transactions, and the utilization of bank terminals for payment of goods and services is being widely adopted.

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