Page 30 - Small Stans and Causcasus Outlook 2022

3.0 Real economy

3.1 Real economy - Kyrgyzstan

3.1.1 Retail
Much of Kyrgyzstan’s retail sector, including the Central Asian Dordoi
Bazaar, has been hit by pandemic impacts.

Kyrgyzstan’s tourism sector is another significant casualty of the
pandemic as it is a major source of income for Kyrgyz citizens.

3.1.2 Banks

N/A

3.1.3 Industry

Kyrgyzstan’s economic growth remains heavily reliant on gold mining at
the flagship gold mine Kumtor that was last May seized by the
government from Canada’s Centerra Gold. However, Kumtor’s
production figures during 2021 became shrouded in mystery following
the seizure.

Kyrgyz lawmakers have expressed concerns about the claimed lack of
transparency in operations at Kumtor, RFE/RL reported on December
16. Kyrgyz Finance Minister Almaz Baketayev in December was unable

30 Small Stans & South Caucasus Outlook 2022 www.intellinews.com