Uzbekistan's public debt is projected to reach $37.9bn by the end of 2024, an increase from the 2023 debt of $34.9bn. By 2024, the public debt is expected to constitute 37.9% of the country's Gross Domestic Product (GDP).
The external public debt, specifically, is projected to be $31.1bn by the end of 2024, accounting for 30.4% of GDP. Of this amount, $24.6bn is directly borrowed by Uzbekistan, with an additional $6.5bn guaranteed by the republic.
In terms of newly signed agreements for attracting external public borrowings, there have been noticeable fluctuations in recent years. Budget support loans, which include sovereign international bonds, amounted to $2.5bn in 2022, $3.4bn in 2023, and are forecasted to be $2.5bn in 2024.
Similarly, loans for investment projects were $2.0bn in 2022 and are forecasted to remain at $2.5bn in 2024. In total, the amount of newly signed agreements for external public borrowings was $4.5bn in 2022 and is forecasted to decrease slightly to $5.0bn in 2024.
Disbursements of the external public debt, which cover both budget support loans and loans for investment projects, are also projected to change. For budget support loans, the disbursements were $2.4bn in 2022 and forecasted to be $2.5bn in 2024. For loans for investment projects, the disbursements were $1.5bn in 2022 and are forecasted to rise to $2.5bn in 2024. Overall, the total disbursement of external public debt was $3.9bn in 2022 and is forecasted to increase to $5.0bn in 2024.
Expenditures on servicing the public debt in 2024 are forecasted to reach UZS 48.6 trillion ($3.9bn), representing 3.7% of GDP. The breakdown of these expenditures shows that interest payments on the external public debt are projected at UZS 12 trillion ($952mn), with the repayment of the principal amounting to UZS 15 trillion ($1.2bn). In total, the expenditures on servicing the external public debt are expected to be UZS 27 trillion ($2.1bn).
For domestic public debt, interest payments are projected to be UZS 4 trillion ($317mn), and the repayment of the principal is expected to be UZS 17 trillion ($1.3bn), bringing the total expenditures on servicing the domestic public debt to UZS 21 trillion ($1.7bn).
Follow Daryo's official Instagram and Twitter pages to keep current on world news.
Comments (0)