ASHGABAT, Turkmenistan, August 4. The balance of credit funds issued by credit institutions of Turkmenistan to state institutions and enterprises as of June 1, 2023 amounted to 58.14 billion Turkmen manats ($16.64 billion), Trend reports.
The Central Bank data shows that these figures are 5.75 percent higher than the same date last year (54.98 billion Turkmen manats or $15.73 billion).
The total amount of loan balances issued to non-state enterprises and organizations of the country at the beginning of June this year amounted to 12.1 billion Turkmen manats ($3.46 billion), which is 14.1 percent more than in the same period of 2022 (10.6 billion Turkmen manats, or $3.03 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.