Specialists of the Ministry of Finance of Uzbekistan prepared a report on a sum of the republic’s state debt. This was reported by the Sputnik Uzbekistan News Agency. As of 1 January 2021, it made up US $23.3 billion or 40.4% of GDP.
In particular, Uzbekistan’s debt to the Asian Development Bank is US $5 billion. The World Bank with US $3.7 billion is the second borrower. The debt to the Chinese State Development Bank, China Export-Import Bank and the Japan International Cooperation Agency is US $2 billion to each one.
The country’s debt to international investors is US $1.7 billion.
In 2020, 17.5% of the funds raised were directed to support the state budget, 12.4% – to the development of energy, 13.7% – to the development of the electric power industry, 11.5% – to the development of transport infrastructure and 11% – for the development of the housing and utilities sector.
On behalf of the ORIENT editorial board, we would like to add that borrowing is a common practice, in the life of both people and states. The main thing is to deal of the attracted funds in such a way, as they say, to distribute the debts on time and remain some as your living allowance.