State-Owned Enterprises in Bosnia and Herzegovina: Assessing Performance and Oversight
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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.
Series:
Working Paper No. 2019/201
Subject:
Economic sectors Financial statements Fiscal risks Privatization Public enterprises Public financial management (PFM) Public sector
English
Publication Date:
September 20, 2019
ISBN/ISSN:
9781513512181/1018-5941
Stock No:
WPIEA2019201
Pages:
43
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