BAKU, Azerbaijan, May 26. The total volume of loans issued by banks of Turkmenistan in national currency from January through February 2023 amounted to 1.01 billion Turkmen manats ($289.1 million) of which 595.63 million Turkmen manats ($170.49 million) were issued in February alone, Trend reports.
According to the Central Bank of Turkmenistan, these figures are 47.6 percent less than in the first 2 months of last year (1.93 billion Turkmen manats or $552.44 million).
Out of the total volume in the reporting period, loans were issued to legal entities in the amount of 518.95 million Turkmen manats ($148.54 million), which is more than 2.9 times less than from January through February 2022 (1.55 billion Turkmen manats or $443.67 million).
In addition, banks of Turkmenistan issued loans to individuals in the first 2 months of this year in the amount of 496.31 million Turkmen manats ($142.06 million), which is 32.2 percent more than in the same period last year (375.35 million Turkmen manats or $107.44 million).
Meanwhile, according to the Central Bank of Turkmenistan, the official exchange rate of the Turkmen manat against the US dollar on May 25, 2023 is set at 3.5 manats per dollar.
