Kumtor Mine Generates $300 Million in Profit in 2.5 Years
Kyrgyzstan Celebrates $300 Million Profit from Kumtor in 2.5 Years
During a recent scientific and practical conference celebrating the 100th anniversary of the Ministry of Finance, the head of the Cabinet of Ministers of Kyrgyzstan, Akylbek Japarov, announced that the country has received a profit of $300 million from the Kumtor mine in the past 2.5 years.
In his speech, Japarov highlighted the importance of effective reforms in public finance management, crediting digitalization, fiscalization, and new initiatives in fiscal and customs policy for the financial success. He pointed out that the state’s assets have doubled over the past three years, reaching 824.2 billion soms.
One of the key factors contributing to this success was the elimination of corruption, with Japarov singling out Kumtor as a shining example. Over the past 27 years, dividends from Kumtor totaled $100 million, but in the last 2.5 years alone, profits reached an impressive $300 million. This significant increase demonstrates a new era in Kyrgyzstan’s financial sector, according to Japarov.
The news of the substantial profits generated by Kumtor and the overall growth in state assets has been met with enthusiasm and optimism in Kyrgyzstan, signaling positive developments in the country’s economic landscape.
