Record-breaking profits for Kyrgyzaltyn in 2023
Kyrgyzaltyn's 2023 revenue reached 14.8 billion soms with a record net profit of 12.65 billion soms, leading to all profits being transferred to the state budget as dividends.
Latest Kyrgyzstan Economy publications
in Economy / Kyrgyzstan,
National Bank Reports Stable Situation on Internal Currency Market
The National Bank of Kyrgyzstan reports stable conditions in the currency market with an abundance of foreign currency supply. Exchange rate of US dollar against the som has slightly decreased and increased in recent weeks.
in Economy / Kyrgyzstan,
Kyrgyzstan Chooses 6.2% Economic Growth Forecast Amid Kumtor Mining Plans
Kyrgyzstan opts for a 6.2% economic growth forecast over the more optimistic 8.4%, attributing the decision to mining low-grade ore at Kumtor for the next two years.
in Economy / Kyrgyzstan,
Reprofiling at Lamp Factory in Mayluu-Suu to Introduce New Products
The lamp factory in Mayluu-Suu is diversifying its production by venturing into glassware production, LED lamp manufacturing, and mineral wool production, among other initiatives, to boost economic growth and create new job opportunities.
in Economy / Kyrgyzstan,
International Monetary Fund Improves Economic Growth Forecast for Kyrgyzstan in 2024
IMF expects Kyrgyzstan's GDP to grow by 4.4% in 2024, with inflation rates set to decrease as well. Various financial institutions provide optimistic forecasts for the country's economy.
in Economy / Kyrgyzstan,
Foreign Companies Pay 188.9 Million Som in VAT for Electronic Services in Kyrgyzstan
Foreign companies in Kyrgyzstan paid 188.9 million som in value-added tax for electronic services in the first quarter of 2024, with Meta, iHerb, Google, Apple, and Amazon making notable contributions. The country had implemented a "Google tax" in 2022 for foreign organizations providing electronic services, resulting in a total tax revenue of 438.1 million som in 2023.
in Economy / Kyrgyzstan,
China and Kyrgyzstan to Collaborate on Building Railway Port
China and Kyrgyzstan are planning to construct a railway port to boost connectivity between China, Central Asia, and Europe, following discussions between the two countries' leaders and business representatives.
in Economy / Kyrgyzstan,
Challenges and Concerns Surrounding Hunting Industry in Kyrgyzstan
Foreign hunting in Kyrgyzstan brings in revenue, but concerns arise over a proposed state enterprise to manage hunting activities, raising worries about the impact on private hunting businesses and service quality.
in Economy / Kyrgyzstan,
Investment Activity to Continue Driving Kyrgyzstan's Economy Growth
The Eurasian Development Bank predicts that investment activity will drive Kyrgyzstan's GDP growth, reaching 8.8% in January-March 2024, driven by construction and energy sectors, as well as strong consumer demand.
in Economy / Kyrgyzstan,
Government to Establish State Leasing Company
The Cabinet of Ministers is proposing the creation of a state leasing company to support local businesses with equipment for production, with a budget of 1 billion soms.
in Economy / Kyrgyzstan,