In the first three quarters of 2022, Turkmenistan’s credit institutions disbursed 84.96 billion Turkmen manat ($24.24 billion) in loans to businesses, organizations, and individuals. This is a 13.3 percent increase over the same period in 2021 (74.96 billion Turkmen manat, or $21.39 billion), Trend reports.
According to the Business Turkmenistan news agency, as of the beginning of September 2022, there had been a total of 17.83 billion Turkmen manat ($5.08 billion) disbursed in loans to individuals conducting business ventures without the establishment of a legal entity, which is 23.6 percent more than there had been during the same period in 2021 (14.42 billion Turkmen manat, or $4.11 billion).
In addition, a program for 2022 on the sustainable growth of the national economy was established during a meeting of Turkmenistan’s Cabinet of Ministers early in December of last year.
The financial industry is generally growing rapidly in the nation. Paying for products and services is increasingly done through bank terminals, non-cash payments are becoming more prevalent, and mobile applications are being created to pay for a variety of goods and services.
