Ford drives hike in car production in Romania
1 day ago
The Russian government has no idea how many state-owned enterprises (SOEs) there are, a new report from the Audit Chamber argues.
Data on the number of SOEs from Rosimushestvo, Rosstat, and the Federal Tax Service differ widely, with figures ranging from under 1,000 to over 1,600 (see chart below).
Furthermore, information about these companies is almost never analyzed. In reports to the government, Russia’s economy ministry only evaluates the health of the ten largest state-owned firms. This means that over 90% of Russian state-owned JSCs operate in a “grey zone,” in which their activities are largely unknown.
Liberal Russian economists have long argued that the state’s dominant role in the economy has hindered the development of competitive and innovative firms. However, the size of the public sector makes it impossible to quickly reduce, so the government should work to increase the efficiency of state enterprises.
This will be difficult to do, the Audit Chamber argues, when the government has such a loose grasp on the presence and activities of the firms themselves.
-
This article originally appeared in FPRI's BMB Russia newsletter. Click here to learn more about BMB Russia/Ukraine and subscribe to the newsletter.
Related Content
Data
Ford drives hike in car production in Romania
Romania’s automobile production increased by 7% y/y to more than 150,000 units in Q1.
Akbank launches spring syndicated loan renewals season for Turkish banks at better costs
Benefits of Turkey’s so-called economic normalisation policy clearly observed in external debt rollovers.
Ukraine's birth rate plummets to 300-year low as country’s population collapses
Ukraine’s population collapsed to 29mn souls last year, according to Ukraine Business News, with just 187,000 births recorded (including in Russian-occupied territories). This is the lowest annual figure in recorded history over the last 300 years.
Russia’s $13.4bn current account surplus in March second highest since 2007
Russia posted a $13.4bn current account surplus in March, more than double February’s $5.5bn and the second highest level for a March since 2007.
Automotive sector output in Hungary edges up 1.6% y/y in February
Headline industrial output rose 1.8% in February, increasing for the first month in about a year.
Most Read
-
Ukraine's birth rate plummets to 300-year low as country’s population collapses
2 days ago
-
COMMENT: Armenia's decisive turn towards the West
1 day ago
-
US senators seek closer ties with Western Balkans to combat Russia's 'malign influence'
1 day ago
-
Remittances come to the rescue of Lebanon’s battered economy
1 day ago
-
Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
2 days ago
-
Iran vs Israel: Who is better equipped for war?
5 days ago
-
Saudi Arabia to scale back plans for Neom city
9 days ago
-
BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
5 days ago
-
PANNIER: Caspian military drills that exclude Russia and Iran have some people in Moscow asking questions
7 days ago
-
Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
5 months ago
-
Russia could pay off its entire external debt tomorrow, in cash
20 days ago
-
Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
24 days ago
-
Albanians campaign on social media to keep bus bridge created in freak accident
1 year ago
-
UBN: Russia could take the Baltic states in 48 hours
29 days ago
-
BRICS announce a blockchain-based payment system to create a common currency
22 days ago