Baku, Azerbaijan, June 28
By Fakhri Vakilov- Trend:
The total external debt of Uzbekistan in 1Q2019 reached $ 19.1 billion, an increase of 10.3 percent or $1.8 billion compared to the beginning of the year, Trend reports citing the report of the Central Bank of Uzbekistan.
For the 1Q2019, public external debt maintained a growth trend observed in 2018. The current trend is expected to continue in 2019.
“This process is connected with new foreign borrowings to finance state programs for the development of the economy and regions,” the report says.
The increase in debt in the first quarter of 2019 mainly accounted for the public sector- $1.7 billion, $1 billion of which accounted for international bonds.
Private sector debt increased by $121.3 million as a result of increased borrowing by banks.
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