The amount of Uzbekistan's foreign debt and what it was used for is disclosed

As of 1 July, of the current year, the total state debt in Uzbekistan is set at 25.9 billion dollars.  So, what were the received fantastic funds spent on?  Odilbek Isokov, Deputy Minister of Finance of the Republic of Uzbekistan, reported on this at the 29th plenary session of the Senate, which was held on 4 August.

According to this, 23.2 billion dollars of the total state debt, which is 25.9 billion dollars in total, is the external debt of the state.  It mainly consists of budget support, infrastructure, and industrial and agricultural loans.

Including:

• 6 billion for budget support;
• 5.6 billion to support the fuel and energy industry;
• 2.5 billion for transport and transport infrastructure;
• 2.4 billion for agriculture and water management;
• 2.2 billion for housing and communal economy;
• 1.5 billion to support business activities;
• 1.1 billion to the chemical industry;
• 700 million for education and health care;
• $1 billion was received for other strategically important projects.

"What I want to draw your attention to is the payment.  Borrowed funds for the purpose of budget support, the social sphere, and defense are deducted from the state budget.  This applies to both the interest and the amount of the loan.

However, in order to support our economy, for example, for fuel and energy, transport, agriculture, and entrepreneurs, the borrowed funds were either re-credited, or state guarantees were provided.  In both cases, the said debt is paid directly to the foreign bank or from the Ministry of Finance by the state enterprise or banks interested in those projects.  This will not burden the state budget." - Odilbek Isakov says.

It should be noted that the senators approved the law "On State Debt" at the plenary session.  The law determines the priority of state debt and its servicing costs, limited volumes of state debt, and the powers of public authorities and management bodies in managing state debt.

In addition, according to the document, it is determined that the maximum amount of the state debt in relation to the gross domestic product should not exceed 60 percent, and only social and infrastructure projects can be financed from the state debt.