05033oam 22012254 450 991015174460332120230808200310.01-4755-5250-51-4755-5253-X(CKB)3710000000952160(MiAaPQ)EBC4745284(IMF)1BGREA2016002(EXLCZ)99371000000095216020020129d2016 uf 0engurcnu||||||||rdacontentrdamediardacarrierBulgaria : Selected Issues PaperWashington, D.C. :International Monetary Fund,2016.1 online resource (67 pages) illustrations, tablesIMF Staff Country Reports1-4755-5249-1 Includes bibliographical references.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.IMF Staff Country Reports; Country Report ;No. 2016/345International Monetary FundInternational Monetary FundBulgariaGovernment business enterprisesBulgariaFinance: GeneralimfInvestments: BondsimfMacroeconomicsimfPublic FinanceimfDemographyimfBankruptcyimfLiquidationimfEconomics of the ElderlyimfEconomics of the HandicappedimfNon-labor Market DiscriminationimfNonprofit Organizations and Public Enterprise: GeneralimfGeneral Financial Markets: General (includes Measurement and Data)imfDemographic Economics: GeneralimfFinanceimfPopulation & demographyimfPensionsimfInvestment & securitiesimfPublic ownershipimfnationalizationimfSolvencyimfAgingimfPublic enterprisesimfBond yieldsimfPopulation and demographicsimfFinancial sector policy and analysisimfEconomic sectorsimfFinancial institutionsimfDebtimfPopulation agingimfGovernment business enterprisesimfBondsimfNationalizationimfBulgariaEconomic conditionsBulgariaimfInternational Monetary Fund.International Monetary FundGovernment business enterprisesFinance: GeneralInvestments: BondsMacroeconomicsPublic FinanceDemographyBankruptcyLiquidationEconomics of the ElderlyEconomics of the HandicappedNon-labor Market DiscriminationNonprofit Organizations and Public Enterprise: GeneralGeneral Financial Markets: General (includes Measurement and Data)Demographic Economics: GeneralFinancePopulation & demographyPensionsInvestment & securitiesPublic ownershipnationalizationSolvencyAgingPublic enterprisesBond yieldsPopulation and demographicsFinancial sector policy and analysisEconomic sectorsFinancial institutionsDebtPopulation agingGovernment business enterprisesBondsNationalization332.152DcWaIMFBOOK9910151744603321Bulgaria674720UNINA