DAVLAT QARZINING O'SISHI VA BYUDJET BARQARORLIGIGA TA'SIRI

This article examines the sharp increase in public debt in Uzbekistan in recent years and its impact on budget stability. The study analyzes the dynamics of public debt from 2017 to 2023, its main causes (infrastructure projects, pandemic related measures), and its negative effects on the budget system (rising debt service costs, currency risks). Additionally, effective debt management strategies are proposed, including optimizing debt structure, evaluating project profitability, and diversifying budget revenues. The article emphasizes the importance of an integrated approach to strengthen Uzbekistan's financial stability.