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

Bobana Cegar and Francisco Parodi

No 2019/201, IMF Working Papers from International Monetary Fund

Abstract: 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.

Keywords: WP; entity government; government support; return on equity; ownership function; government assets; government policy function; SOE sector; State-Owned Enterprises; Bosnia and Herzegovina; Financial Performance; SOE Governance; financial risk; RS government; SOE performance; implicit government support; government oversight; current liabilities; Public enterprises; Privatization; Financial statements; Fiscal risks; Public sector; Eastern Europe (search for similar items in EconPapers)
Pages: 43
Date: 2019-09-20
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Citations: View citations in EconPapers (2)

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