The President of Turkmenistan instructed to send all currency received from exports to the Stabilization Fund

Due to the difficult situation in the global economy that has developed during the pandemic, the current procedure for foreign exchange operations will be reviewed as a temporary measure in Turkmenistan. President Gurbanguly Berdimuhamedov gave the corresponding order to G. Mushshikov, Deputy Prime Minister for Economics, at a government meeting held on Friday by videoconference.

“At present, it should be transferred to the Stabilization Fund in full, and not 50% of the currency received in the accounts of exporting enterprises and institutions, as well as private firms. These funds need to be compensated in the national monetary unit,” the head of state said.

The President also ordered the creation of a commission to purchase the necessary goods, medicines, construction equipment and other products. The main objective of this structure is to consider the issue of converting for these purposes the funds of enterprises and organizations in national currency into foreign.

The Vice Prime Minister was given a three-day period for the preparation of the relevant government decree.

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