BAKU, Azerbaijan, Mar. 1
By Klavdiya Romakayeva - Trend:
Some 12.4 percent of the attracted funds ($2.6 billion) in the external debt of Uzbekistan as of January 1, 2021 were directed to the development of energy, Trend reports referring to the Ministry of Finance of Uzbekistan.
According to the report of the Ministry of Finance, the state debt of Uzbekistan as of January 1, 2021 amounted to $23.3 billion, or 40.4 percent of the gross domestic product (GDP – gross domestic product). It was noted that the state debt of Uzbekistan as of January 1, 2020 amounted to $17.8 billion, or 30.8 percent of GDP.
At the same time, Uzbekistan's external debt amounted to $21.1 billion or 36.5 percent of GDP, increasing by 34.4 percent. It is reported that $15.1 billion (71.4 percent) is debt raised on behalf of the government, while $6 billion (28.6 percent) is guaranteed by Uzbekistan.
Thus, the domestic debt increased by 5.4 percent to 23.3 trillion soums ($2.2 billion) or 3.9 percent of GDP.
In particular, Uzbekistan's debt to the Asian Development Bank amounts to $5 billion, the World Bank - $3.7 billion, the China Export-Import Bank - $2.2 billion, the Japan International Cooperation Agency - $1.9 billion, the Chinese State Development Bank and others - $2 billion, the Islamic Development Bank - $0.9 billion and other international financial institutions - $2.4 billion.
It was noted that 70 percent of Uzbekistan's external debts were attracted in US dollars, 11.3 percent in Japanese yen, 9.5 percent in SDRs (Special Drawing Rights), 5.1 percent in euros and 4.1 percent in other currencies.
At the same time, 12.4 percent of the attracted funds ($2.6 billion) were directed to the development of energy, 13.7 percent ($2.9 billion) - to the development of the electric power industry, 11.5 percent ($2.4 billion) - to the development of transport infrastructure and 11 percent ($2.3 billion) for the development of the housing and utilities sector.
In addition, Uzbekistan during the reporting period allocated $3.7 billion (17.5 percent of the raised funds) to support the budget, $2.9 billion (13.7 percent) in the electric power industry, $2.6 billion in energy (oil and gas) (12, 4 percent), transport and transport infrastructure - $2.4 billion (11.5 percent), housing and communal services - $2.3 billion (11 percent), agriculture - $2.2 billion, sovereign international bonds - $ 1.7 billion, education and healthcare - $0.7 billion, chemicals - $1 billion, telecommunications - $0.2 billion and other industries - $1.1 billion.
Moreover, in 2020, Uzbekistan allocated $1.1 billion to service external debt, including $656.5 million in debt and $405.1 million in interest on attracted loans. At the same time, $315.9 million was allocated from the state budget.
Also, Uzbekistan directed $666.9 million to service its domestic debt, including $515.5 million in debt and $151.4 million in interest.
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