The state debt of Uzbekistan was announced in 2022

The balance of Uzbekistan's public debt was US $ 29.2 billion as of January 1, 2023 (of which the state external debt is US $ 25.9 billion, the State Internal Debt is US $ 3.3 billion) or 36.4 percent compared to the gross domestic product (GDP). This was announced in a review published by the Ministry of Economy and finance.

"In particular, the ratio of public debt to GDP decreased from 39.0 percent in early 2021 (at the end of 2021-38.0 percent) to 36.4 percent by the end of 2022,” the review said. 

According to a report of the International Monetary Fund dedicated to the economy of countries, the state debt of the Republic of Uzbekistan is today at a “moderate” level.

Below is the amount of external and internal debt of the state (in the equivalent of us $ billion per unit of measurement:

State external debt-25,9

Percentage relative to GDP-32.25
Foreign debt balance attracted on behalf of the Republic of Uzbekistan-19,8
External debt balance attracted under state guarantee-6,1
State domestic debt* - 3,3

Percentage relative to GDP-4.1
Debt balance on government securities issued on behalf of the Republic of Uzbekistan (trln in sum) - 13.0
Internal debt balance, attracted under state guarantee, repaid from the state budget — 2,16
Public debt, total — 29.2

In percentage with respect to GDP-36.4 percent
* The balance of the internal debt of the state is reflected in the balance of State Securities, internal debt guaranteed by the state and internal obligations repaid from the state budget.

As a result of the measures taken to maintain and effectively manage the state debt at a macroeconomic stable level and ensuring a high-speed growth of the Republic's economy in the conditions of stability of the national exchange rate, from 2021 the ratio of state debt to GDP is stabilized.

In particular, the ratio of public debt to GDP fell from 38.0 percent in early 2022 to 36.4 percent as of January 1, 2023.

While the public debt increased to $ 2.9 billion during 2022, the GDP ratio of the public debt decreased due to the rapid growth of the GDP in the US dollar bill, $ 11.1 billion.

In recent years, the measures taken to maintain and effectively manage the public debt have now come to fruition.

In particular:

• Since 2020, the practice of legally limiting the amounts of foreign debt of the newly attracted state has been established.

Of which:

The limited volume of new contracts signed on behalf of the Republic of Uzbekistan or under the guarantee of the Republic of Uzbekistan for 2020 by the law of the Republic of Uzbekistan “on the state budget of the Republic of Uzbekistan for 2020”was set at US $ 5.5 billion.
The volume of new state foreign debt agreements signed at the end of 2020 was US $ 5.35 billion.

As of 2021, it has been established to establish at the law level the safe level of public debt as well as the limits of the newly attracted state in relation to both domestic and foreign debt agreements.