The Kyrgyz economy grew by more than 7% between January and July 2015, according to the Kyrgyz National Statistical Committee. The report alleges that the growth was driven principally by a spike in industrial production and increased investment in its manufacturing industry, which already makes up more than 40% of the Kyrgyz economy.
The report also noted that the much-discussed Kumtor gold mine has played a role in the Kyrgyz economy’s growth. The mine has contributed approximately $2.7 billion to the economy over the past 20 years, although it is expected to contribute even more over the next several months and into next year.
The Asian Development Bank’s forecast for the economy is optimistic; it augurs, for instance, that the economy will continue to grow as a result of the recovery of the textiles and agroprocessing industries.
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- Artillery fire in Mariupol caused the deaths of seven people in the eastern Ukrainian city. The fighting which represents the worst outbreak of violence in months in eastern Ukraine is said to have broken out over the weekend and to have continued until now. The Ukrainian military has begun shelling the city and appears to have begun shelling Donetsk earlier this morning.
- Iranian Foreign Minister Javad Zarif is in New Delhi in order to lay the groundwork for a new plan of increased cooperation. Iran’s chief diplomat is expected to meet with Indian Prime Minister Narendra Modi and a number of other senior officials in order to encourage Indian investment in the Iranian port city of Chabahar.
- Ukrainian grain reserves have grown by approximately 17% over the past year, according to Ukraine’s State Statistics Service. The total stockpile includes approximately 1.5 million tons of wheat and about 4.2 billion tons of barley, two of Ukraine’s main exports. The rise in growth still falls short of stockpile numbers prior to last year’s overthrow of former Ukrainian President Viktor Yanukovych.
- Russia and Iran have agreed to collaborate in order to fight ISIL in Iraq and Syria. The two countries’ separate security efforts are well known, although Iran is perhaps more well known for the center role it is playing in fighting ISIL in both Iraq and Syria. Russia’s role in the fighting has been more subtle, although it is clear that it is a growing supplier of arms both to the Syrian government in Damascus and to Iran.