Uzbekistan’s total public debt at the end of 2021 is projected at US$ 28.4 billion, or 44.9% of GDP, the draft Citizens Budget 2021 said.
By the end of next year, the external public debt is expected to reach US$ 25.5 billion, of which US$ 18 billion was drawn by the government and US$ 7.5 billion is under the guarantee of the government of Uzbekistan.
Despite the upward trend, the debt remains moderate, at a safe level for macroeconomic stability (within 60%), according to the Ministry of Finance.
This year, the public debt (up to the expected US$ 22.8 billion, or 39% of GDP) grew due to the attraction of external borrowings to finance additional budget expenditures to overcome the negative consequences of the COVID-19 pandemic. For these purposes, the Anti-Crisis Fund was created at the expense of soft loans from international financial institutions.