08.11.2019

In execution of Council of Ministers’ Decree No 114 of 2010, the Ministry of Finance published the reports of state-owned companies and enterprises for the third quarter of 2019. According to the Decree, subject to special monitoring and control of financial performance, financial discipline and fiscal risk are all state-owned enterprises under Article 62(3) of the Commerce Act, commercial companies with more than 50 percent state participation in the capital and companies controlled by them.

The legal provisions require Ministers and heads of the relevant institutions, in accordance with their sectoral competence, to submit to the Ministry of Finance quarterly and annual financial statements of the companies – balance sheet, profit and loss account, statement of change in equity, statement of cash flows and notes thereto, accompanied by an analysis of their activity and financial situation.