Uzbekistan’s total public debt at the end of 2021 is projected at US$ 28.3 billion (45.3% of GDP), according to the Citizens Budget, compiled by the Ministry of Finance.
According to the ministry, despite the growth trend, the public debt remains moderate, at a level safe for macroeconomic stability.
It is noted that in 2020 the growth of public debt was due to the drawing of external borrowings to finance additional budget expenditures to overcome the negative consequences of the COVID-19 pandemic.
At the end of 2021, the state external debt is projected at US$ 25.7 billion, of which US$ 18.6 billion is raised on behalf of the government and US$ 7.1 billion is guaranteed by the Republic of Uzbekistan.
This year, the net maximum volume of newly signed loan agreements on behalf of the Republic of Uzbekistan and under the guarantee of the Republic of Uzbekistan is set at US$ 5.5 billion, including US$ 2.2 billion for financing the state budget deficit (including government securities - 5 trillion soums), financing of investment projects - 3.3 billion US dollars.
There is also a ceiling on the amount of public debt raised on behalf of the Republic of Uzbekistan and under the guarantee of the Republic of Uzbekistan - no more than 60% in relation to the annual projected GDP.