Bosnia’s governments have for years treasured public or state-owned companies, SOEs, as cash cows, using them to fund high public spending.
Political parties used them to fund patronage networks, while for some politicians they are also sources of lucrative private businesses.
But poor financial performance and management and inadequate oversight have weakened most of them, the IMF resident representative in Bosnia and Herzegovina, Francisco Parodi, told BIRN.
He cited a recent IMF report on public companies in Bosnia –the first such study by any local or international organization on this topic in years.
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