Uzbekistan’s public debt stood at $43.97 bn on October 1, marking an increase of $3.75 bn since the start of the year, the Ministry of Economy and Finance reports.
The pace of debt growth is slowing: the first quarter saw a 5.9% rise, the second 2.1%, and the third just 1.1%. Meanwhile, the debt-to-GDP ratio fell from 35% to 32.3%.
External debt reached $36.7 bn, equivalent to 27% of GDP, of which $20.4 bn was borrowed at fixed rates and $16 bn at floating rates. Domestic debt grew to $7.25 bn, or 5.3% of GDP. The largest increase was in budget support loans, which rose by $352 mln to $17.43 bn.
Debt in agriculture and utilities also increased, while obligations for supporting entrepreneurship, industry, and the energy sector declined.
International financial institutions hold the bulk of Uzbekistan’s debt, with the World Bank portfolio at $8 bn, the Asian Development Bank at $7.5 bn, and international bondholders owning $5.8 bn in securities. In terms of currency, the US dollar dominates at 63%, followed by the Uzbek sum at 12% and the euro at 8%.
Kursiv also reports that the Central Bank of Uzbekistan ranked among the world’s largest gold purchasers in October.
