IMF Working Papers

State-Owned Enterprises in Bosnia and Herzegovina: Assessing Performance and Oversight

By Bobana Cegar, Francisco J Parodi

September 20, 2019

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Bobana Cegar, and Francisco J Parodi. State-Owned Enterprises in Bosnia and Herzegovina: Assessing Performance and Oversight, (USA: International Monetary Fund, 2019) accessed November 5, 2024

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

Based on a new database of State-Owned Enterprise (SOE) financial statements, we find that SOEs in Bosnia and Herzegovina are mostly in poor financial shape. We estimate the overall size and composition of the SOE sector, and identify individual companies that affect fiscal and macroeconomic performance. Financial analysis suggests that SOEs are not contributing enough to the economy. We also review the SOE governance framework and find that governments do not exercise their ownership function in line with WB/OECD guidelines. Reforms to the governance frameworks are necessary to foster transparency and improve accountability. More fundamental reform of the SOE sector might increase overall GDP by 3 percent per year.

Subject: Economic sectors, Financial statements, Fiscal risks, Privatization, Public enterprises, Public financial management (PFM), Public sector

Keywords: Bosnia and Herzegovina, Current liabilities, Eastern Europe, Entity government, Financial Performance, Financial risk, Financial statements, Fiscal risks, Government assets, Government oversight, Government policy function, Government support, Implicit government support, Ownership function, Privatization, Public enterprises, Public sector, Return on equity, RS government, SOE Governance, SOE performance, SOE sector, State-Owned Enterprises, WP

Publication Details

  • Pages:

    43

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Working Paper No. 2019/201

  • Stock No:

    WPIEA2019201

  • ISBN:

    9781513512181

  • ISSN:

    1018-5941

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