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Kyrgyzstan’s annual demand for gold is 5 tons

Kyrgyzstan’s annual demand for gold is 5 tons. The head of the Fiscal Policy Department of the Ministry of Economy Kuban Aidaraliev told at a press conference.

According to him, the National Bank buys 2.5 tons annually; jewelers import other 2.5 tons.

«Having own gold reserves, Kyrgyzstan is forced to import pure gold. Our jewelers have to pay import taxes, which hinders the development of the industry. Therefore, we must stop the export of gold ore from Kyrgyzstan and support the internal gold supply,» said Kuban Aidaraliev.

The government amends the Tax Code, increasing by 3 percent the tax rate on the export of gold ore and concentrate.

According to the Ministry of Economy of Kyrgyzstan, 20 tons of gold are mined in the country annually.