External debt of Uzbekistan increases by $ 1.5 billion

Finance Materials 1 April 2019 13:09 (UTC +04:00)

Baku, Azerbaijan, April 1

By Fakhri Vakilov – Trend:

The volume of total external debt of Uzbekistan as of January 1, 2019 amounted to $17.3 billion, Trend reports with reference to the Central Bank of Uzbekistan.

Regulator states that in comparison with the beginning of 2018, foreign debt increased by 9.5 percent or $1.5 billion.

As of January 1, 2019, Uzbekistan’s state external debt amounted to $10.08 billion and increased by $2.48 billion compared to the beginning of 2018.

Private external debt decreased by $977.3 million and amounted to $7.2 billion as of January 1, 2019.

The external debt of telecommunications sector decreased by $717.4 million to $248.2 million.

The banking sector of Uzbekistan increased its external debt by $394.2 million in 2018 to $978.2 million as of January 1, 2019.

It should be noted that in 2018, the private sector attracted loans totaling $866.1 million. Borrowing was mainly carried out by banks in the amount of $588.0 million, oil, gas and energy enterprises - $76.0 million, textile companies - $57.0 million, and other sectors of the economy - $145.1 million.

The central bank notes that 75 percent of private foreign debt, or $5.38 billion, is in the oil and gas sector. In comparison with the beginning of 2018, the debt of the oil and gas sector decreased by $763.2 million.

Moreover, the main debt in the amount of $1.3 billion and interest in the amount of $366.6 million was paid for private external debt, and $397.7 million and $151.3 million respectively on public external debt.

A significant amount of repayment of the main debt of the private sector falls on the oil and gas and energy sector ($862.2 million), as well as the banking ($192.8 million) and telecommunications sector ($149 million).

The oil and gas and energy sector enterprises paid interest in the amount of $296.7 million, while the interest payments of the banking sector amounted to $42.6 million.

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