Uzbekistan’s public debt reached $48.3 billion by the end of the first half of 2026, equivalent to 27% of gross domestic product, Kun.uz reported.
According to data from the Ministry of Economy and Finance, external public debt made up the bulk of the total at $40.7 billion, while domestic debt stood at $7.6 billion.
Foreign-currency borrowing accounted for $38.63 billion, or about 80%, of the external debt. Borrowing denominated in the national currency amounted to $2.07 billion, or 4%.
International financial institutions were the largest group of external creditors, accounting for $22.5 billion, or 55%, of Uzbekistan’s external public debt.
The World Bank was the country’s largest individual external creditor, with $9.1 billion owed to the institution, followed by the Asian Development Bank with $8.2 billion.
Uzbekistan owed $2.3 billion to the Asian Infrastructure Investment Bank, while its debt to China’s Export-Import Bank and other Chinese financial institutions totaled $3.8 billion.
Debt owed to the Japan International Cooperation Agency and other Japanese institutions stood at $3.1 billion.
Exactly half of Uzbekistan’s external public debt – $20.5 billion – was used to finance the state budget deficit.
The fuel and energy sector accounted for $5.5 billion in external borrowing. Healthcare, education, information and communications technology, and other sectors received a combined $3.7 billion, while $3.4 billion was allocated to utilities.
Agriculture and water management projects received $3.3 billion, followed by transport infrastructure with $3 billion.
A further $624 million was allocated to supporting entrepreneurship and industrial production, while $605 million went to the chemical industry.
