Kyrgyz Economy Shrank by 5.8% in the First Half of 2012

• Category: Kyrgyzstan
BISHKEK ( news agency) – “The economy of Kyrgyzstan finished the first half of 2012 with a minus,” Minister of Economy and Antitrust Policy Temir Sariyev stated at the ministry’s board devoted to the results of the first half of 2012.

According to him, in the Kyrgyz Republic GDP has fallen by 5.8% for the first half. “The downturn is mainly in the industry due to decline in gold production at the Kumtor mine. There is also a recession in other industries. At the same time there are huge reserves that are not used. Unfortunately, provinces and districts do not work under new conditions and at all levels. We should admit this is very anxious information,” Temir Sariyev said.

The head of the Ministry of Economy and Antitrust Policy noted that while 335,000 tons of coal were extracted in 2011, only 68,000 tons were mined in the first half of 2012. “20 enterprises in Chui province stand idle, 17 in Issyk Kul province, 6 in Naryn, 3 in Talas,” Minister said.