http://www.universalnewswires.com/centralasia/viewstory.aspx?id=1...

http://www.universalnewswires.com/centralasia/viewstory.aspx?id=10661

Apparently someone has lots of confident in this sector.

" The Kyrgyz economy is recovering thanks to strong performances in the agriculture and mining sectors, a representative from the International Monetary Fund (IMF) said in the Kyrgyz capital Bishkek on Thursday.

“Kyrgyzstan’s economy is recovering due to gold mining, because of the high influx of tourists and boosting agriculture,” the KyrTAG news agency reported IMF Resident Representative in Kyrgyzstan Koba Gvenetadze as saying.

“Recovery of the economy also has been helped by the strengthening of tax administration, tax revenues from gold mining. The tourism sector has also made a significant contribution to the economy. This also was aided by remittances from abroad, particularly from Russia and Kazakhstan.”

The Kyrgyz economy has been buoyed to a steady 9 percent growth in the economy, the IMF representative added, also saying that inflation is likely to decrease from its current level of 9 percent to 7 percent by the end of 2011.

He noted that the Kyrgyz government’s budget expenditures have grown as it tries to repair some of the damage sustained in the country’s southern provinces during last year’s ethnic violence.

Gvenetadze also warned that deteriorating economic conditions around the world may have a detrimental effect on Kyrgyzstan’s economy by possibly reducing remittances down the line.

However, gold prices are expected to remain steady, which will strengthen the Kyrgyz economy."