Uzbekistan public debt levels reached a record high of USD 29.2 bln or 36.4% of GDP in 2022, with 90% of that debt in foreign currency. According to World Bank forecasts, the Uzbek government is expected to continue to comply with its borrowing restrictions. Public debt and total external debt are expected to gradually decrease to 32% and 55% of GDP, respectively, by the end of 2024. Separately, Fitch affirmed Azerbaijan rating at BB+ with a positive outlook.