By Trend

Uzbekistan’s gross external debt is projected to reach $28.3 billion (45.3% of GDP) by the end of 2021, Trend reports citing Kabar.

According to the Ministry of Finance, despite the growth dynamics, the public debt remains moderate, at a level safe for macroeconomic stability.

It is noted that in 2020 the growth of public debt was due to the attraction of external borrowings to finance additional budget expenditures to overcome the negative consequences of the COVID-19 pandemic.

This year, the net maximum volume of newly signed agreements on attracting internal and external borrowings on behalf of the state and under the guarantees of the republic should not exceed $5.5 billion.