BAKU, Azerbaijan, May 26. The balance of loans issued by credit institutions of Turkmenistan to enterprises, organizations, and citizens as of April 1, 2023, amounted to 89.28 billion Turkmen manats ($25.48 billion), Trend reports.
The Central Bank data shows that these figures are 11.5 percent higher than the same date last year (80.06 billion Turkmen manats or $22.85 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 April 2023 amounted to 19.4 billion Turkmen manats ($5.53 billion), which is 20 percent more than in the same period of 2022 (16.16 billion Turkmen manats, or $4.61 billion).
Turkmenistan is experiencing a continuous expansion of the financial sector, which includes various innovations. For example, an increasing number of mobile applications provide the opportunity to pay for various services and goods. Non-cash payments are becoming increasingly popular, and payment for goods and services through bank terminals is also actively used.
