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14:35 / 28.06.2019 345

Uzbekistan's external debt reaches all-time peak - $19.1 billion

The total external debt of Uzbekistan as of April 1, 2019 amounted to $19.1 billion (an increase of 10.3% or $1.8 billion from the beginning of the year), follows from the Central Bank report.

Public external debt consists of debt raised by the state, and debt received under the guarantee of the state. It amounted to $11.74 billion (or 62%, an increase of $1.65 billion) over the year.

Private external debt consists of foreign borrowing of companies that include state-owned enterprises that are not guaranteed by the state. It amounted to $7.32 billion (or 38%, an increase of $121.3 million).

The bulk of private foreign debt falls on the oil and gas, energy sectors ($5.19 billion or 71%). The next are the banking sector ($1.27 billion or 17%), telecommunications ($246.6 million or 3%) and textile ($131.8 million or 2%). Other sectors account for $484.7 million (or 7%).

“An increase in debt mainly accounted for the public sector ($1.7 billion), of which $1 billion are international bonds. Indebtedness of the private sector grew by $121.3 million as a result of an increase in borrowing by banks and other sectors of the economy,” the report reads.