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    Finance

    External debt in Uzbekistan surpass $1.7 bn in 2023

    External debt in Uzbekistan surpass $1.7 bn in 2023

    Uzbekistan has witnessed a substantial influx of foreign investments and loans in its fixed capital during the year 2023, amounting to a total of UZS 187.9 trillion ($14.9 bn), Statistics Agency reported.

    Photo: Foreign loans in Uzbekistan surpass $1.7 bn in 2023
    Source: Statistics Agency 

    The breakdown of these investments and loans reveals a diverse range of financial instruments contributing to the country's economic growth. During the period spanning January to December 2023, foreign loans secured under the guarantee of Uzbekistan totaled UZS 21.2 trillion ($1.7 bn), as it was disclosed by Statistics Agency on March 18. This represents a substantial increase of 130.3% compared to the figures recorded in 2022. Foreign direct investments and non-guaranteed foreign loans amounted to UZS 84.3 trillion ($6.7 bn). 

    Furthermore, the proportion of these foreign loans within the overall volume of investments experienced a slight uptick. Specifically, their share increased by 0.3 percentage points and now stands at 6%, as compared to the previous year.

    Looking ahead to the first quarter of 2024, Uzbekistan aims to continue its momentum in attracting foreign investments. The country has set ambitious targets, with plans to accept foreign investments totaling $7.2 bn during this period. To facilitate this goal, Uzbekistan has adopted a resolution outlining specific investment projects slated for completion in the first quarter of 2024.

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    19.03.2024, 08:27   Comments (0)   1918
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