Support The Moscow Times!

Kyrgyz GDP Shrinks

Kyrgyzstan's gross domestic product, hit by the output collapse at the country's flagship gold venture with Canada's Centerra Gold, shrank 0.9 percent in 2012 after a 6 percent increase a year earlier, official statistics released Monday show.

Hit by lower production at the Kumtor mine, the largest gold venture run by a Western company in Central Asia, industrial output dwindled 20.2 percent from last year, the National Statistics Committee reported. By contrast, 2011 saw an 11.9 percent increase in that figure.

Kumtor alone accounted for 12 percent of Kyrgyzstan's GDP and more than half its exports in 2011.

The venture was forced to cut its 2012 production outlook from its estimate of 450,000 ounces of gold to between 415,000 and 425,000 ounces. The drop was due to ice movement at the open-pit mine, which is in a high-altitude area of permafrost near the border with China.


… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more