Uzbekistan’s external debt reached $21.8 billion or 35.8 percent of the Central Asian country’s gross domestic product (GDP) as of July 1, 2021, the Finance Ministry said.

The country’s domestic debt amounted to $2.4 billion as of July 1, 2021.

The ministry explained the reasons for the growth of the state debt by $858.6 million in the first half of this year by the use of funds received on behalf of the government and under state guarantees to cover the state budget deficit, payment of the principal on loans, as well as the exchange rate difference.

The balance of funds under external borrowing agreements concluded on behalf of Uzbekistan expanded by $363.4 million, under contracts guaranteed by the state – by $319.1 million, it said.

The volume of the external debt portfolio raised from international financial organisations amounted to $10.2 billion.