Tashkent, Nov. 30, 2020. /Kabar/. By the end of 2021, Uzbekistan’s total state debt is projected to be USD 28.4 billion (44.9% of GDP), the press service of the republic’s Finance Ministry reported on Monday.
"Despite the growth dynamics, the state debt remains moderate, at a level safe for macroeconomic stability," the report says.
This year the growth of the public debt is connected with attraction of external borrowings for financing additional budget expenditures for overcoming negative consequences of COVID-19 pandemic. For these purposes, the Anti-Crisis Fund has been established at the expense of soft loans of international financial institutions.
By the end of 2021, the state foreign debt is forecasted at the rate of USD 25.5 billion, out of which USD 18 billion is attracted on behalf of the government and USD 7.5 billion - guaranteed by Uzbekistan.
Expenses on servicing the state external debt in 2020 may reach USD 1 billion, in 2021 – USD 1,5 billion.
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