BAKU, Azerbaijan, May 26. The balance of credit funds issued by credit institutions of Turkmenistan to state institutions and enterprises as of April 1, 2023 amounted to 57.93 billion Turkmen manats ($16.53 billion), Trend reports.
The Central Bank data shows that these figures are 6.6 percent higher than the same date last year (54.35 billion Turkmen manats or $15.51 billion).
The total amount of loan balances issued to non-state enterprises and organizations of the country at the beginning of April this year amounted to 11.94 billion Turkmen manats ($3.4 billion), which is 25.1 percent more than in the same period of 2022 (9.54 billion Turkmen manats, or $2.72 billion).
The financial sector of the country is experiencing continuous growth and development. Notably, there is a progressive introduction of mobile applications for convenient payment of a wide range of services and products.
Moreover, there has been a noticeable surge in non-cash transactions, and the utilization of bank terminals for payment of goods and services is being widely adopted.
