ASHGABAT, Turkmenistan, August 2. The total volume of loans issued by banks of Turkmenistan in national currency from January through April 2023 amounted to 2.96 billion Turkmen manats ($847.27 million), of which 1.08 billion Turkmen manats ($309.13 million) were issued in April alone, Trend reports.
According to the Central Bank of Turkmenistan, these figures are 42.5 percent less than in the first four months of last year (5.15 billion Turkmen manats, or $1.47 billion).
Out of the total volume in the reporting period, loans were issued to legal entities in the amount of 1.61 billion Turkmen manats ($460.84 million), which is more than 2.5 times less than from January through April 2022 (4.12 billion Turkmen manats, or $1.17 billion).
Furthermore, banks in Turkmenistan issued loans to individuals in the first 4 months of this year in the amount of 1.35 billion Turkmen manats ($386.42 million), which is 31 percent more than in the same period last year (1.03 billion Turkmen manats or $294.82 million).
Meanwhile, according to the Central Bank of Turkmenistan, the official exchange rate of the Turkmen manat against the US dollar on August 2, 2023, is set at 3.5 manats per dollar.