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Gold production in Kyrgyzstan increases by 35 percent

Gold production in Kyrgyzstan increased by 35 percent. Such data are published in the report of the Eurasian Development Bank (EDB).

According to the bank, GDP growth in the first half of 2022 reached 6.3 percent.

Experts note that the gold mining sector continued to support economy, where production volumes increased by more than 30 percent.

The report says that the growth was supported by a recovery in activity in agriculture, construction, restaurant and hotel business.

Analysts add that, at the same time, the structure of exports has not yet recovered. One of the reasons, in their opinion, is a reduction in the supply of gold abroad.

«A slowdown in Kyrgyzstan’s GDP growth is expected in the second half of this year due to withdrawal from the low base of the previous year and a slowdown in global economic growth,» the EDB predicts.