ASHGABAT, Turkmenistan, May 27. The balance of credit funds issued by credit institutions in Turkmenistan to state institutions and enterprises as of April 1, 2024, amounted to 53.6 billion Turkmen manat ($15.3 billion), Trend reports.
According to the Central Bank of Turkmenistan, these figures are 7.4 percent lower than on the same date last year (57.9 billion Turkmen manats, or $16.5 billion).
The total amount of loan balances at the beginning of April this year provided to non-governmental enterprises and organizations in the country amounted to 12.3 billion Turkmen manat ($3.5 billion), which is 3 percent more than in the same period of 2022 (11.9 billion Turkmen manat, or $3.4 billion).
Meanwhile, Turkmenistan's banking sector has been actively evolving in recent years, with a notable rise in the number of financial institutions, the broadening of services, the upgrading of infrastructure, and enhanced regulation to foster economic growth and financial inclusion.
In the meantime, according to the Central Bank of Turkmenistan, the official exchange rate of the Turkmen manat against the US dollar on May 27, 2024, is set at 3.5 manat per USD.
