In 2025, Uzbekistan’s public debt increased by $6.6 billion or 16.5%, reaching $46.9 billion. In the fourth quarter of the year alone, the debt grew by $2.9 billion, Tashkent Today reports.
The country’s external debt amounted to $39.8 billion, an increase of $6.1 billion over the year.
Domestic debt increased to $7 billion (+$542 million over the year).
$4.5 billion of the new borrowings was used to cover the state budget deficit.
As of January 1, 2026, per capita debt exceeded $1,225, compared to $1,070 the year before.
These figures do not include the corporate external debt of state-owned companies and banks, which, according to preliminary estimates, exceeded $40 billion. Official data on total external debt are expected to be published at the end of February.
