Uzbekistan’s external debt reaches 58.6% of GDP

The total external debt of Uzbekistan at the end of 2020 amounted to $33.8 billion, growing by $9.2 billion (37.4%) during the year.

According to the Central Bank, the reason for such a growth in external debts is the attraction of loans to mitigate the crisis caused by the pandemic, financing state programs for the development of economic sectors and regions.

External debt consists of public and private debts. The first amounted to $21.3 billion and grew by $5.4 billion, the second reached $12.5 billion, increasing by $3.7 billion.

Earlier the Ministry of Finance called a debt level of 60% of GDP safe. Considering that the GDP of Uzbekistan in 2020 amounted to $57.6 billion, then the current level of debt is 58.6%.