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The chairman of the Central Bank of Turkmenistan, Toyly Malikov, presented a report on the results of the work of the financial and banking sector of the country for six months of this year at an expanded meeting of the government, which was held on Friday. This is reported by the State News Agency.
According to Malikov, the total volume of loans issued by Turkmen banks as of July 1, 2023 increased by 5.1% compared to the same period last year, and the income of credit institutions increased by 1.7%. Lending to the non-state sector, individuals, agricultural producers and mortgage borrowers grew especially actively.
President Serdar Berdimuhamedov noted the need to ensure a stable turnover of financial resources in the economy, targeted use of loans, increase their efficiency, take measures to increase the national currency and expand cooperation with international financial organizations.
The head of state also instructed to study the sources of financing of national investment projects and intensify the activities of other banks in lending to the manufacturing sectors of the economy.