BAKU, Azerbaijan, November 11. The volume of loans issued by credit institutions of Turkmenistan to enterprises, organizations, and citizens for the first nine months of 2022 amounted to 88.11 billion Turkmen manat ($25.14 billion), which is 16.7 percent more than in the reporting period 2021 (75.48 billion Turkmen manat - $21.54 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 18.14 billion Turkmen manat ($5.14 billion) as of the beginning of October 2022, which is 23.6 percent more than in the same period of 2021 (14.59 billion Turkmen manat or $4.16 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.