Bulgaria: Selected Issues Paper

November 10, 2016

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Bulgaria: Selected Issues Paper, (USA: International Monetary Fund, 2016) accessed November 21, 2024

Summary

This paper highlights Bulgaria’s state-owned enterprises (SOEs) sector and to assess its performance in a regional perspective. A detailed and rich firm-level dataset of state-owned and private firms was compiled for this note to compare key performance indicators of SOEs to private firms in the same sector and to similar firms in Croatia and Romania for a regional comparison. In some network industries, such as energy, SOEs are heavily loss-making. Large amounts of debt have been piled up notably in the energy and transport sectors which, to the extent that it is classified outside the general government accounts, can pose significant risk to public finances in the form of contingent liabilities if the SOEs run into financial difficulties. SOE profitability and resource allocation efficiency largely lag private firms in the same sectors, even when isolating SOEs engaged in competitive market activities and hence classified outside of general government. Coupled with comparably poor output quality, these challenges have the potential to impair competitiveness and productivity across the economy.

Subject: Aging, Bond yields, Economic sectors, Financial institutions, Financial sector policy and analysis, Population and demographics, Public enterprises, Solvency

Keywords: Aging, Bond yield, Bond yields, Bulgaria, Bulgaria yield regression, CR, Currency bond yield, ECB policy action, ECB policy rate, Europe, Firm, Global, Insolvency process, Interbank market rate, Interest rate, ISCR, Public enterprises, Solvency

Publication Details

Pages:

66
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/345
Stock No:

1BGREA2016002
ISBN:

9781475552492
ISSN:

1934-7685

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