All Turkmen enterprises will sell 100% of foreign currency revenue

President of Turkmenistan Gurbanguly Berdimuhamedov has ordered companies to transfer all foreign currency earnings received from exports to the country’s Stabilization Fund, state television of Turkmenistan reported on Monday.

Previously, 50% of foreign exchange earnings remained on the accounts of state agencies and enterprises.

The President declared mandatory currency sales a temporary measure and also instructed the government to review the state budget.