Corporate Debt to Uzbekistan’s Off-Budget Pension Fund Reaches 1.85 Trillion Soums

Tashkent, Uzbekistan (UzDaily.com) — The total debt of organizations and enterprises in Uzbekistan to the Off-Budget Pension Fund under the Ministry of Economy and Finance reached 1.855 trillion soums as of 1 October 2025, reflecting a significant increase over the first nine months of the year, according to data from the Pension Fund.

Since the beginning of 2025, the debt has grown by 307 billion soums, or 19%, up from 1.548 trillion soums as of 1 January.

A regional breakdown shows considerable disparities in both the level and pace of debt accumulation. In Tashkent, organizational debt more than doubled — from 136.2 billion soums to 313.2 billion soums — the highest figure among all regions, indicating serious issues with payment discipline in the capital.

Kashkadarya region maintained its position as the area with the largest outstanding debt, which reached 232.3 billion soums, though the increase there was relatively moderate, up from 220.1 billion soums.

Andijan region also remains among the leaders in total debt, with 195.0 billion soums, up from 187 billion soums at the beginning of the year.

In Khorezm region, debt rose from 40.2 billion to 49.7 billion soums; in Namangan region — from 58.5 billion to 73.8 billion soums; and in Ferghana region — from 120.9 billion to 153.4 billion soums.

Only two regions reported a decline in their outstanding debt: Navoi region — from 53.9 billion to 52.2 billion soums, and Surkhandarya region — from 121.0 billion to 117.8 billion soums.