Tashkent, Uzbekistan (UzDaily.com) -- As of 1 January 2022, the public debt of Uzbekistan reached US$26.3 billion, or 38% of gross domestic product (GDP). This was reported by the Ministry of Finance of Uzbekistan.

According to the Ministry of Finance, the public debt of Uzbekistan increased by US$2.9 billion compared to the beginning of 2021. At the same time, Uzbekistan’s GDP grew by US$9.4 billion in 2021, which reduced the public debt to GDP ratio from 39% to 38%.

The state external debt amounted to US$23.6 billion (growth - US$2.5 billion; 34% of GDP) and domestic debt - US$2.7 billion (4% of GDP).

In 2021, Uzbekistan signed agreements on attracting external loans in the amount of US$5.5 billion, including government securities - 5 billion soums.

At the same time, the debt attracted on behalf of the government is US$16.3 billion and under the guarantee of Uzbekistan - US$6.4 billion.

The Ministry of Finance notes that the state domestic debt increased by US$464.1 million and amounted to US$2.7 billion. The volume of government securities is 4.7 trillion soums and domestic debt guaranteed by the state - US$2.3 billion.

The amount of funds from international financial organizations attracted by Uzbekistan is US$10.9 billion (46.3% of Uzbekistan’s external debt).

In particular, Uzbekistan’s debt to the Asian Development Bank is US$5.2 billion, the World Bank - US$4.3 billion, the China Export-Import Bank - US$2 billion, the Japan International Cooperation Agency - US$2.1 billion, the China State Development Bank and others - US$2.2 billion, the Islamic Development Bank - US$0.9 billion and other international financial institutions - US$2.7 billion

According to the Ministry of Finance, 71.9% of Uzbekistan’s external debts are attracted in US dollars, 10.5% - in Japanese yens, 8.4% - in SDRs, 4.6% - in euros, 1.8% - in soums and 2 .8% - in other currencies.

Uzbekistan in the reporting period sent US$5.9 billion to support the budget (25.2% of the funds raised).

At the same time, 13.2% of the funds raised (US$3.1 billion) were directed to the development of the electric power industry, 12.2% (US$2.9 billion) - to the development of the energy sector, 11% (US$2.6 billion) - to the development of transport infrastructure and 9 .1% (US$2.1 billion) for the development of the housing and communal sector.

Another US$1.2 billion was directed to the banking sector, US$1.2 billion to the chemical industry, US$0.7 billion to education and medicine, US$0.2 billion to telecommunications.

In 2021, Uzbekistan sent US$2.2 billion to service external debts: US$875.8 million of debt and US$475.5 million of interest on attracted loans. At the same time, US$917.6 million was allocated from the state budget for debt servicing.

Uzbekistan also directed US$857.3 million to service domestic debt: US$703.1 million of debt and US$154.2 million of interest.