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Turkmenistan increases volume of loans issued to organizations, state institutions

Finance Materials 19 September 2022 11:48
Baku, Azerbaijan Trend News Agency
Turkmenistan increases volume of loans issued to organizations, state institutions

The volume of loans issued to state institutions and enterprises in Turkmenistan increased by 4.9 percent from January through August 2022, compared to the same period in 2021 (53.14 billion Turkmen manats, or $15.16 billion) - to 55.76 billion Turkmen manats ($15.91 billion), Trend reports citing Business Turkmenistan news agency.

The total amount of loans issued to non-state enterprises and organizations as of the beginning of August 2022 amounted to 11.62 billion Turkmen manats ($3.31 billion), which is 66.8 percent more than in the same period of 2021 (6.96 billion Turkmen manats, or $1.98 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.

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