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President of Turkmenistan identified key aspects of the country's banking complex

President of Turkmenistan identified key aspects of the country's banking complex

The issues of improving the activities of financial and economic sector were discussed at a working meeting of the President of Turkmenistan with Deputy Prime Minister Serdar Berdimuhamedov, who oversees this area, as well as Minister of Finance and Economy Mukhammetgeldi Serdarov and heads of the country's banks, held on Wednesday.

After hearing reports on the work of the banking complex in 2021, the Turkmen leader identified specific tasks facing it in the context of the Strategy of Actions under elaboration for the Development of Turkmenistan for 2022-2052.

The main task of the Central Bank and the entire banking system is to maintain the balance of funds in the economy, ensuring constant control in this direction.

"It is necessary to improve the country's monetary policy, financial management, as well as to ensure and increase the effective use of loans in the economy," Berdimuhamedov stressed.

"The main goal of Turkmenistan's monetary policy should be to strengthen the purchasing power of the national currency, to support the industrial and innovative development of the state," the President of the country said, stressing that the leading sectors of the economy, including priority areas, should be provided with sufficient funds.

In order to increase the country's investment activity, the head of state instructed to continue financing projects implemented by small and medium-sized enterprises. In this regard, it was instructed to actively cooperate with the international financial organizations, especially the International Monetary Fund, the World Bank Group, the Asian Development Bank and other financial institutions.

The President also focused on the importance of monitoring the implementation of measures provided for in the adopted State Programs in the area of the banking system, and on coordinating work in this direction.

The need to provide for the improvement of the quality and range of digital banking services provided to the population in the Strategy of Actions for the Development of Turkmenistan for 2022-2052 was emphasized.

"This year practical steps should be taken to further strengthen the country's economic potential and ensure high rates of social development," the head of state noted, focusing on the importance of increasing budget revenues and developing market relations in the economy, the State News Agency of Turkmenistan reports.

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