ASHGABAT, Turkmenistan, May 28. The balance of loans issued by credit institutions in Turkmenistan to enterprises, organizations, and citizens as of April 1, 2024, amounted to 88 billion Turkmen manat ($25.1 billion), Trend reports.
According to the Central Bank of Turkmenistan, these figures indicate a decrease of 1 percent compared to the corresponding date of the previous year, which amounted to 89.2 billion Turkmen manat or $25.4 billion.
The total amount of the balance on loans issued to citizens engaged in entrepreneurial activities without forming a legal entity at the beginning of April 2024 amounted to 22 billion Turkmen manat (6.2 billion), which is 13 percent more than in the same period of 2023 (19.4 billion Turkmen manat, or $5.5 billion).
Meanwhile, Turkmenistan's banking sector has been actively evolving in recent years, with a notable rise in the number of financial institutions, the broadening of services, the upgrading of infrastructure, and enhanced regulation to foster economic growth and financial inclusion.
In the meantime, according to the Central Bank of Turkmenistan, the official exchange rate of the Turkmen manat against the US dollar on May 28, 2024, is set at 3.5 manat per USD.