Uzbekistan’s government anticipates maintaining its debt-to-GDP ratio between 39.5% and 40.4% from 2025 to 2027. The plan includes maintaining a consolidated budget deficit averaging 3% of GDP and managing an external debt-to-GDP ratio of about 33.3%. The strategy also involves extending the maturity of public debt and diversifying debt sources through increased issuance of medium- and long-term government securities.