ASHGABAT, Turkmenistan, February 23. The total volume of loans issued by banks in Turkmenistan in national currency from January through November 2023 amounted to 21.66 billion Turkmen manat ($6.18 billion), of which 10.99 billion Turkmen manat ($3.14 billion) were issued in November alone, Trend reports.
According to the Central Bank of Turkmenistan, this figure is 38.4 times lower than in the first eleven months of 2022, when it amounted to 35.17 billion Turkmen manat ($10.04 billion).
During this period, legal entities received loans in the amount of 16.97 billion Turkmen manat, which is equivalent to $4.84 billion, which is 46 percent less compared to the period from January through November 2022, when it reached 31.46 billion Turkmen manat ($8.98 billion).
Furthermore, in the first eleven months of last year, banks in Turkmenistan provided loans to individuals totaling 4.68 billion Turkmen manat ($1.34 billion), which is almost 26.1 percent more than in the same period in 2022 (3.71 billion Turkmen manat or $1.06 billion).
Meanwhile, the Turkmen manat's official exchange rate against the US dollar on February 23, 2023, is fixed at 3.5 manats per dollar, according to the Central Bank of Turkmenistan.