$300 MILLION IN PROFIT RECEIVED FROM KUMTOR FOR 2.5 YEARS

published: 07 June 2024

Profit of $300 million has been received from Kumtor for 2.5 years. The head of the Cabinet of Ministers of Kyrgyzstan, Akylbek Japarov, announced it at a scientific and practical conference dedicated to the 100th anniversary of the Ministry of Finance.

The head of the Cabinet of Ministers in his speech emphasized the role of effective reforms in public finance management, thanks to digitalization, fiscalization and new initiatives in fiscal and customs policy.

«State assets in 2015 amounted to 310 billion soms, in 2020 — 420 billion soms, or increased 1.5 times for five years. Now the state’s assets amount to 824.2 billion soms and have doubled over the past three years,» Japarov noted.

Elimination of corruption was a key factor in achieving these results, he said, pointing to Kumtor as an example. Dividends from Kumtor over the past 27 years totaled $100 million, while in the past 2.5 years profits totaled $300 million. This indicates a new era in Kyrgyzstan’s financial sector, he said.