Finance Minister: Uzbekistan’s external public debt remains at a moderate level

Uzbekistan’s external public debt in 2020 remained at a moderate level, Finance Minister Timur Ishmetov said.

“According to preliminary estimates, as of January 1, 2021, the size of the external public debt amounted to $21.1 billion, or 36.5% of GDP. Despite the growth in recent years, by international standards, our country's foreign public debt remains at a moderate level,” the minister said at a briefing.

He noted that public debt is an integral and important part of the state economic policy.

“The borrowed funds received by the state are mainly directed to the development of systemically important sectors of the economy – energy, transport, engineering, telecommunications, chemical industry, education, agriculture and health,” Ishmetov added.

In particular, in 2020, $3.1 billion (14.6%) was directed to the electricity sector, $2.6 billion (12.4%) – to the oil and gas industry, $2.4 billion (11.5%) – to the sphere of transport infrastructure, $2 billion (9.4%) – to housing and communal services.