LEADER 05033oam 22012254 450 001 9910151744603321 005 20230808200310.0 010 $a1-4755-5250-5 010 $a1-4755-5253-X 035 $a(CKB)3710000000952160 035 $a(MiAaPQ)EBC4745284 035 $a(IMF)1BGREA2016002 035 $a(EXLCZ)993710000000952160 100 $a20020129d2016 uf 0 101 0 $aeng 135 $aurcnu|||||||| 181 $2rdacontent 182 $2rdamedia 183 $2rdacarrier 200 10$aBulgaria : $eSelected Issues Paper 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2016. 215 $a1 online resource (67 pages) $cillustrations, tables 225 1 $aIMF Staff Country Reports 311 $a1-4755-5249-1 320 $aIncludes bibliographical references. 330 3 $aThis paper highlights Bulgaria?s state-owned enterprises (SOEs) sector and to assess its performance in a regional perspective. A detailed and rich firm-level dataset of state-owned and private firms was compiled for this note to compare key performance indicators of SOEs to private firms in the same sector and to similar firms in Croatia and Romania for a regional comparison. In some network industries, such as energy, SOEs are heavily loss-making. Large amounts of debt have been piled up notably in the energy and transport sectors which, to the extent that it is classified outside the general government accounts, can pose significant risk to public finances in the form of contingent liabilities if the SOEs run into financial difficulties. SOE profitability and resource allocation efficiency largely lag private firms in the same sectors, even when isolating SOEs engaged in competitive market activities and hence classified outside of general government. Coupled with comparably poor output quality, these challenges have the potential to impair competitiveness and productivity across the economy. 410 0$aIMF Staff Country Reports; Country Report ;$vNo. 2016/345 606 $aInternational Monetary Fund 606 $aInternational Monetary Fund$zBulgaria 606 $aGovernment business enterprises$zBulgaria 606 $aFinance: General$2imf 606 $aInvestments: Bonds$2imf 606 $aMacroeconomics$2imf 606 $aPublic Finance$2imf 606 $aDemography$2imf 606 $aBankruptcy$2imf 606 $aLiquidation$2imf 606 $aEconomics of the Elderly$2imf 606 $aEconomics of the Handicapped$2imf 606 $aNon-labor Market Discrimination$2imf 606 $aNonprofit Organizations and Public Enterprise: General$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aDemographic Economics: General$2imf 606 $aFinance$2imf 606 $aPopulation & demography$2imf 606 $aPensions$2imf 606 $aInvestment & securities$2imf 606 $aPublic ownership$2imf 606 $anationalization$2imf 606 $aSolvency$2imf 606 $aAging$2imf 606 $aPublic enterprises$2imf 606 $aBond yields$2imf 606 $aPopulation and demographics$2imf 606 $aFinancial sector policy and analysis$2imf 606 $aEconomic sectors$2imf 606 $aFinancial institutions$2imf 606 $aDebt$2imf 606 $aPopulation aging$2imf 606 $aGovernment business enterprises$2imf 606 $aBonds$2imf 606 $aNationalization$2imf 607 $aBulgaria$xEconomic conditions 607 $aBulgaria$2imf 615 0$aInternational Monetary Fund. 615 0$aInternational Monetary Fund 615 0$aGovernment business enterprises 615 7$aFinance: General 615 7$aInvestments: Bonds 615 7$aMacroeconomics 615 7$aPublic Finance 615 7$aDemography 615 7$aBankruptcy 615 7$aLiquidation 615 7$aEconomics of the Elderly 615 7$aEconomics of the Handicapped 615 7$aNon-labor Market Discrimination 615 7$aNonprofit Organizations and Public Enterprise: General 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aDemographic Economics: General 615 7$aFinance 615 7$aPopulation & demography 615 7$aPensions 615 7$aInvestment & securities 615 7$aPublic ownership 615 7$anationalization 615 7$aSolvency 615 7$aAging 615 7$aPublic enterprises 615 7$aBond yields 615 7$aPopulation and demographics 615 7$aFinancial sector policy and analysis 615 7$aEconomic sectors 615 7$aFinancial institutions 615 7$aDebt 615 7$aPopulation aging 615 7$aGovernment business enterprises 615 7$aBonds 615 7$aNationalization 676 $a332.152 801 0$bDcWaIMF 906 $aBOOK 912 $a9910151744603321 996 $aBulgaria$9674720 997 $aUNINA