Uzbekistan limits public external debt to 50 percent of GDP

Photo: Wall Street Journal

Uzbekistan’s public external debt has been limited to 50 percent of the country’s GDP. This is approved by a resolution of the Cabinet of Ministers.

According to preliminary calculations based on multi-scenario forecasts, this is the level of public debt that is safe for macroeconomic stability.

As of October 1, 2019, the total external debt of the republic amounted to $21.5 billion, an increase of $5.1 billion over the year. This is due to the attraction of new external borrowings to finance state programs for the development of economic sectors and regions.

The main part of the debt falls to the public sector - $13.8 billion. Private debt amounted to $7.7 billion.