Where does Uzbekistan direct borrowed funds?
As taxpayers, do we need to know on what these resources are spent?
And how much will the welfare of the population change from the implementation of projects financed by these investments?
As of January 1, 2021, the amount of external public debt was $21.1 billion, or 36.5% of GDP (60% is considered critical).
Loans are not dispersed to cover current expenses, but are invested in the future. These funds are used to build roads, affordable housing, modernize the energy sector, housing and communal services, and address the problems of education and healthcare.
In 2020, $ 3.1 billion was allocated for the electric power industry, $ 2.6 billion for energy (oil and gas), 2.4 billion for transport, and $ 2 billion for housing and utilities.
UZ JSC "Uzkimyosanoat" has implemented 7 investment projects worth of $ 2.4 billion at the expense of external debt.
Every year, the amount of signed loan agreements decreases: if in 2019 about $9 billion was raised, then in 2020 – $5.3 billion. The set limit for the current year is $ 5 billion.