Friday, 27, January, 2023

Uzbekistan’s national debt as of July 1, 2022 topped $26 billion, or 35.1% of the gross domestic product (GDP). According to the Ministry of Finance, Uzbekistan’s national debt decreased by $300 million compared to the same period in 2021. While, national debt to GDP decreased from 38% at the end of 2021 to 35.1% in the first half of 2022.

The national external debt amounted to $23.3 billion (31.4% of GDP) and domestic debt - $2.8 billion (3.7% of GDP). In the first half of 2022, Uzbekistan signed external loan agreements worth of $1.6 billion and issued government securities worth 2 trillion soums. At the same time, the debt raised under the government’s guarantee topped $1.6 billion.

The Ministry of Finance added that the state domestic debt increased by 41.4 million and amounted to $ 2.8 billion. The volume of government securities is 5 trillion soums and domestic debt guaranteed by the state - 2.3 billion. The external debt of Uzbekistan decreased by $302.9 million in the reporting period to $23.3 billion, which is 31.4% of GDP.

The volume of external debt attracted on behalf of the government amounted to $16.9 billion, which is 72.8% of the total national debt. The amount of funds raised under government guarantees reached $6.4 billion (27.2%).

The amount of funds from international financial organizations drawn by Uzbekistan is $1.2 billion (48.1% of Uzbekistan's external debt). In particular, Uzbekistan's debt to the Asian Development Bank stands at $5.4 billion, the World Bank - $4.4 billion, the China Export-Import Bank - $1.9 billion, the Japan International Cooperation Agency - $1.8 billion, the China Development Bank and others - $2.2 billion, the Islamic Development Bank - $1 billion and other international financial institutions - $ 2.7 billion.

According to the Ministry of Finance, 74.1% of Uzbekistan's external debts are attracted in US dollars, 8.7% - in Japanese yens, 8.1% - in SDRs, 4.3% - in euros, 1.9% - in soums and 2 .9% - in other currencies. Uzbekistan in the reporting period contributed $6 billion to support the budget (258% of the funds raised).

At the same time, 11.8% of the funds raised ($2.7 billion) were contributed to the development of the electric power industry, 12.8% ($3 billion) - to the development of the energy sector, 10.6% ($2.5 billion) - to the development of transport infrastructure and 10.4% (2.4 billion) for the development of agriculture and water management. Uzbekistan has allocated $2.2 billion (9.5%) for the development of housing and communal services. Another $1.4 billion was sent to the banking sector, $1.1 billion to the chemical industry, $ 0.8 billion to education and medicine, and $ 0.2 billion to telecommunications.

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