National Debt (% of GDP): Uzbekistan

Analysis# Uzbekistan National Debt (% of GDP) Uzbekistan's national debt stood at 31% of GDP in 2026, positioning the country in the moderate range of its historical record. The nation peaked at 44.8% in 2001 following economic transitions, then achieved a remarkable low of 6.1% in 2014 through fiscal discipline. Since 1997, overall debt has risen 102.6%, reflecting both the early post-independence restructuring period and more recent economic pressures. The most significant shift occurred between 2016 and 2020, when debt jumped from 17.3% to 33.7%—a sharp 16.4 percentage point increase likely driven by pandemic-related spending and currency pressures. Since 2020, the ratio has stabilized around 31-33%, suggesting Uzbekistan has reached a new equilibrium after the volatility of the transition years. Projections through 2026 indicate debt will remain stable near current levels rather than spike further.