Bulgarian State Enterprises Accrue Debt of BGN 10 B

Bulgarian enterprises with over 50% State stake have accrued total debt of BGN 9.9 B, according to Deputy Prime Minister, Daniela Bobeva.

Speaking Tuesday, at a conference dedicated to management of State-owned enterprises (with over 50% stake), Bobeva said that there were 249 such enterprises in the country with a net profit of BGN 220 M (with the exception of the Bulgarian Energy Holding, BEH) and a debt of 9 B, of which 5 B were short-term debt.

The Deputy PM announced that she has organized 2 months ago a work group for new legislation on State participation in the economy, stressing this initiative was part of the government's program to boost economic growth.

Bobeva explained that as the privatization of most of the State sector has concluded, the focus now should be better management of the remaining State enterprises as they form a significant part of the country's jobs and of the Gross Domestic Product, GDP.

Better management includes new ways to appoint Boards of Directors and a new dividend policy of the State.

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