ASHGABAT, Turkmenistan, December 4. As of October 1, 2023, the balance of credit funds issued by Turkmen credit institutions to state institutions and enterprises was 53.39 billion Turkmen manat ($15.2 billion), Trend reports.
According to the Central Bank, these figures are 8.2 percent lower than on the same date last year (58.2 billion Turkmen manats, or $16.6 billion).
At the beginning of August this year, the total amount of loan balances provided to non-state enterprises and organizations in the country was 12.35 billion Turkmen manat ($3.52 billion), 4.1 percent greater than in the same time in 2022 (11.86 billion Turkmen manat, or $3.4 billion).
The country's financial sector is undergoing sustained expansion and progress, with a noteworthy trend being the gradual rollout of mobile applications that facilitate convenient payments for a diverse array of services and products.
Furthermore, there has been a distinct increase in the prevalence of non-cash transactions, and the widespread adoption of using bank terminals for the payment of goods and services is evident.