BAKU, Azerbaijan, March 30. The balance of loans issued by credit institutions of Turkmenistan to enterprises, organizations and citizens as of February 1, 2023, amounted to 88.74 billion Turkmen manats ($25.36 billion), Trend reports with reference to the Central Bank of Turkmenistan.
According to the information, these figures are 12.4 percent higher than the same date last year (78.93 billion Turkmen manats or $22.55 billion).
The total amount of the loan balance issued to citizens engaged in entrepreneurial activity without the formation of a legal entity as of the beginning of February 2023 amounted to 19.06 billion Turkmen manats ($5.44 billion), which is 21.6 percent more than in the same period of 2021 (15.67 billion Turkmen manats, or $4.47 billion).
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.