ASHGABAT, Turkmenistan, December 1. Turkmenistan's banks provided a total of 8.19 billion Turkmen manat ($2.34 billion) in loans in the national currency from January through August 2023, of which 1.05 billion Turkmen manat ($300 million) were issued in August alone, Trend reports.
The data of the Central Bank of Turkmenistan shows that these figures are 31 percent less than in the first eight months of last year (11.88 billion Turkmen manat, or $3.4 billion).
Out of the total volume in the reporting period, loans were issued to legal entities in the amount of 5 billion Turkmen manat ($1.43 billion), which is 47.1 percent less than in the period from January through August 2022 (9.46 billion Turkmen manat, or $2.7 billion).
Furthermore, banks in Turkmenistan issued loans to individuals in the first eight months of this year in the amount of 3.18 billion Turkmen manat ($910 million), which is 32 percent more than in the same period last year (2.41 billion Turkmen manat or $690 million).
Meanwhile, according to the Central Bank of Turkmenistan, the official exchange rate of the Turkmen manat against the US dollar on December 1, 2023, is set at 3.5 manats per dollar.