BAKU, Azerbaijan, September 19. The volume of loans issued by credit institutions of Turkmenistan to enterprises, organizations, and citizens from January through August 2022 amounted to 84.91 billion Turkmen manat ($24.23 billion), which is 14.4 percent more than in the reporting period 2021 (74.21 billion Turkmen manat - $21.18 billion), Trend reports citing Business Turkmenistan news agency.
The total amount of loans issued to citizens engaged in entrepreneurial activity without the formation of a legal entity amounted to 17.52 billion Turkmen manat ($5 billion) as of the beginning of August 2022, which is 24.3 percent more than in the first half of 2021 (14.1 billion Turkmen manat - $4.02 billion).
Furthermore, at the beginning of December last year, during a meeting of the Cabinet of Ministers of Turkmenistan, a Program for 2022 on the sustainable development of the national economy was adopted.
In general, the country's financial sector is constantly expanding. In particular, mobile applications are being introduced to pay for various services and goods, the number of non-cash payments is increasing, and payment for goods and services is being implemented through bank terminals.