Uzbekistan’s foreign debt keeps upward trend

Photo: AP

Since the beginning of 2019, Uzbekistan’s state debt has increased by $4.5 billion, or 30.9 percent.

Ministry of Finance published updated statistics on state debt of the Republic of Uzbekistan

According to the Ministry, as of October 1, 2019, loans received on behalf of or under the guarantee of the Government of Uzbekistan amounted to $19.2 billion, or 33.6 percent of GDP.

China still holds the first place among top lenders. As of October 1, 2019, the state debt borrowed from this country totaled to $2.8 billion. These funds are not a direct debt of the Government of Uzbekistan, they mainly represent the loans of the State Development Bank of China and the Export-Import Bank of PRC.

Japan occupies the second place with $1.8 billion, it is followed by South Korea with $560 million. France is the 4th ($345.8 million), Germany - 5th ($286.5 million), Russia - 6th ($150.6 million), and Saudi Arabia - 7th ($122.1 million). The rest is contributed by other countries ($111.8 million).