Tashkent, Uzbekistan (UzDaily.com) -- The state debt of Uzbekistan as of 1 July 2021 made up US$24.2 billion, or 38.5% of the gross domestic product (GDP). This was reported by the Ministry of Finance of Uzbekistan.

According to the Ministry of Finance, the state external debt compared to the previous quarter increased by about US$800 million and amounted to US$21.8 billion (34.7% of GDP).

At the same time, the debt raised on behalf of the government is US$15.4 billion and under the guarantee of Uzbekistan - US$6.4 billion.

The Ministry of Finance notes that the state domestic debt increased by US$200 million and amounted to US$2.4 billion (3.8% of GDP). The volume of government securities is 3.17 trillion soums and domestic debt under state guarantees - US$2.1 billion.

In particular, the debt of Uzbekistan to the Asian Development Bank is US$5 billion, the World Bank - US$3.8 billion, the Chinese Export-Import Bank - US$2 billion, the Japan International Cooperation Agency - US$2.2 billion, the Chinese State Development Bank and others - US$2.2 billion, the Islamic Development Bank - US$0.9 billion and other international financial institutions - US$2.4 billion

According to the Ministry of Finance, 70.3% of Uzbekistan’s external debts were attracted in US dollars, 11.7% in Japanese yen, 9.2% in SDRs, 4.7% in euros.

In the reporting period, Uzbekistan allocated US$4.7 billion to support the budget (21.6% of the funds raised).

At the same time, 14.1% of the attracted funds (US$3.1 billion) were directed to the development of the electric power industry, 12.5% (US$2.7 billion) - to the development of the energy sector, 11.6% (US$2.5 billion) - to the development of transport infrastructure and 9.2% (US$2 billion) for the development of the housing and utilities sector.

Another US$1.3 billion was directed to the banking sector, US$1.2 billion to the chemical industry, US$0.7 billion to education, and US$0.2 billion to telecommunications.

In the first half of 2021, Uzbekistan sent US$569.4 million to service external debts: US$343.7 million in debt and US$225.7 million in interest on attracted loans. At the same time, US$212.5 million has been allocated from the state budget to service debts.

In particular, Uzbekistan directed US$551 million to service its domestic debt: US$472 million in debt and US$79 million in interest.