Uzbekistan’s public debt jumped by $2.3bn to $31.5bn in 1H23, according to a report from the ministry of economy and finance.
The entire increase was accounted for by the state's domestic debt, which grew to $5.6bn. The external debt remained unchanged at $25.9bn.
In relation to the volume of GDP, the public debt increased slightly to 36.8%, far from the 60% limit recommended by the IMF.
The ministry forecast that in 2024-2026 the national debt would remain below 37% of GDP.
The largest lender was the Asian Development Bank (ADB) with $6.2bn. Next were the World Bank ($5.6bn), the Chinese State Development Bank ($3.8bn) and the Japan International Cooperation Agency ($2.1bn).
Central Asia's second-largest economy owes South Korea and the Islamic Development Bank $0.9bn each.
Of the external debt, most of the funds were channelled to support the state budget ($8.76bn, or 34%). This was followed by the fuel and energy sector ($5.35bn, or 21%), agriculture ($2.68bn, or 10%), transport ($2.67bn, or 10%) and housing and communal services ($2.35bn, or 9%).
Uzbekistan’s central bank has said that the high dollarisation of deposits, loans and liabilities in the banking system and the practice of concessional lending are hindering the effectiveness ... more
Kazakhstan has initiated the construction of a new 152-kilometre Darbaza-Maktaaral railway line on the border with Uzbekistan, the press service of the Kazakh prime minister has announced. Since ... more
Uzbekistan’s President Shavkat Mirziyoyev on November 27 attended the launch ceremony for a 1.5-GW thermal power plant in Syrdarya region and the production of green hydrogen in Tashkent region. ... more