BAKU, Azerbaijan, Nov 24
By Natavan Rzayeva - Trend:
The Ministry of Finance of Uzbekistan expects an increase in the external public debt of the country by almost 21 percent, reaching $25.5 billion, Trend reports referring to the ministry’s report.
According to the ministry, next year, the volume of external debt may grow to $30.4 billion, which is 41 percent of the country’s GDP.
"The public external debt, expected in 2021, will amount to $25.5 billion or 37.6 percent of GDP, in 2020 this figure reached $21.1 billion or 35.2 percent of GDP," the ministry said in a report.
Thus, the growth in the volume of public debt will be about 20.9 percent.
The ministry noted that despite the growth during the COVID-19 pandemic, the public debt of Uzbekistan remains moderate, at a level safe for macroeconomic stability, which is determined by the country's authorities at 60 percent of GDP.