ASHGABAT, Turkmenistan, September 15. The balance of credit funds issued by credit institutions of Turkmenistan to state institutions and enterprises as of August 1, 2023, amounted to 55.21 billion Turkmen manat ($15.8 billion), Trend reports.
The Central Bank data shows that these figures are 1 percent lower than on the same date last year (55.76 billion Turkmen manat or $15.96 billion).
The total amount of loan balances issued to non-state enterprises and organizations of the country at the beginning of August this year amounted to 12.4 billion Turkmen manat ($3.55 billion), which is 6.9 percent more than in the same period of 2022 (11.6 billion Turkmen manat, or $3.32 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.