“The deposits can not be given to investors through an auction”, member of the Association of Miners and Geologists Kartaybek Mukambetov said at a round table discussion. According to him, during the years of independence, Kyrgyzstan has failed to establish mining production management. “The created committee has not yet shown an effective work. The State…
Toktogul water reservoir has currently accumulated 15 billion cubic meters of water, which is 4 billion more than in 2015. This was announced today at a meeting of the Republican head office on preparation for the heating season. At least 133.163 million kW-h of electricity have been imported from Kazakhstan in 2016 for uninterrupted power…
The staff of Mailu-Suu electric-bulb plant is against the sale of the company to the Chinese side. The plant is included in the list of objects of the Kyrgyz Ministry of Economy, which will be offered to China for the transfer of production capacity. Currently, the company produces more than 100 types of incandescent lamps.…
During the first half of the year, the State Customs Service has provided the receipt of 13.74.8 billion soms (104.3% to the forecast figures) in customs duties. The forecast amount was 12,541.6 billion soms. The excess gatherings reached 533.3 millions more. As for June, the Ministry of Finance has already made a forecast of customs…
Kochkor-Ata Mayor’s Office intends to spend over 14 million soms on repair of three roads. Mayor’s Office budget will provide 1, 756.8 million for the widening of Pioneer Street. Reconstruction of Pioneer and Sadovaya Streets will cost 12,353.4 million soms. (24.kg/Business World Magazine)
The International Monetary Fund cut its forecast for growth of the Kyrgyz economy in 2016 to 2.2%. After a difficult start of the year, the pressures on the economy of Kyrgyzstan are beginning to moderate, helped by a stabilizing regional context. In the first half of 2016, overall and non-gold growth reached -2.3% and 1.2%…
The Eurasian Development Bank predicts 1.5% slowdown in the Kyrgyz economy. Tight monetary conditions may restrain economic growth in the Kyrgyz Republic. The slow pace of gold production’s increase is among the deterrent internal factors. Weakening of som exchange rate in the fourth quarter of 2015 helped smooth the increasing pressure by improving the trade…