Publication:
Tajikistan : Fiscal Risks from State-Owned Enterprises

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dc.contributor.authorWorld Bank
dc.date.accessioned2014-12-16T22:45:00Z
dc.date.available2014-12-16T22:45:00Z
dc.date.issued2014-06
dc.description.abstractThis policy note is part of the World Bank's Programmatic Public Expenditure Review (PER) work program for FY2012-2014. The PER consists of a series of fiscal policy notes, which aim at providing the Government of Tajikistan with recommendations to strengthen budgetary processes and analysis. This policy note, the fifth in the series continues the fiscal policy dialogue conducted in the previous notes. It is structured as follows. Chapter 2 reviews the role of state-owned enterprises (SOE) in Tajikistan's economy and identifies key issues. Chapter 3 assesses the fiscal risks posed by SOEs, especially those in the energy sector. Chapter 4 puts forth possible solutions. Chapter 5 summarizes the main conclusions of this note: 1) despite privatizations and attempts at restructuring, Tajikistan still has a large, inefficient, and heavily indebted public sector; 2) the lack of comprehensive information about the sector undermines budget credibility and budget integrity; 3) multiple but uncoordinated functions, responsibilities, and accountability lines limit government ability to form a comprehensive view of the SOE sector, define a consistent strategy, and effect transparency, performance, reporting, and oversight; 4) elaborate QFAs of SOEs and other public institutions create substantial fiscal risks and undermine the hard-earned benefits of fiscal consolidation; 5) liabilities, explicit and implicit, created by SOE operations are large and must be accounted for and properly delineated; 6) solutions proposed to address the major issues are phasing out QFAs, optimizing the size and scope of the SOE sector, and improving SOE management; and 7) SOE reform should be an integral part of the general reform agenda.en
dc.identifierhttp://documents.worldbank.org/curated/en/2014/06/19766073/fiscal-risks-state-owned-enterprises
dc.identifier.doi10.1596/20749
dc.identifier.urihttps://hdl.handle.net/10986/20749
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.relation.ispartofseriesTakijistan policy notes on public expenditures;policy note no. 5
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCESS TO INFORMATION
dc.subjectACCOUNTABILITY
dc.subjectACCOUNTING
dc.subjectACCOUNTING STANDARDS
dc.subjectACCOUNTS RECEIVABLE
dc.subjectALLOCATION OF RESOURCES
dc.subjectAUDIT COMMITTEE
dc.subjectAUDIT COMMITTEES
dc.subjectAUTHORITY
dc.subjectBAILOUTS
dc.subjectBALANCE SHEETS
dc.subjectBENEFICIARY
dc.subjectBORROWER
dc.subjectBUDGET MANAGEMENT
dc.subjectBUDGET REVENUES
dc.subjectBUDGETARY ALLOCATIONS
dc.subjectBUDGETARY FUNDS
dc.subjectCAPITAL STRUCTURE
dc.subjectCASH TRANSFERS
dc.subjectCHECKS
dc.subjectCIVIL CODE
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMPANY LAW
dc.subjectCOMPETITION LAW
dc.subjectCOMPETITION POLICY
dc.subjectCONSTITUENCY
dc.subjectCONSTITUTION
dc.subjectCONTINGENT LIABILITIES
dc.subjectCONTINGENT LIABILITY
dc.subjectCORPORATE GOVERNANCE
dc.subjectCREDIBILITY
dc.subjectCREDIT CULTURE
dc.subjectCREDIT MARKETS
dc.subjectCREDITORS
dc.subjectCURRENCY
dc.subjectDEBTOR
dc.subjectDEBTS
dc.subjectDECISION MAKING
dc.subjectDEFICITS
dc.subjectDEGREE OF TRANSPARENCY
dc.subjectDEVELOPMENT BANK
dc.subjectDISCLOSURE
dc.subjectECONOMIC DEVELOPMENT
dc.subjectENTERPRISE REFORM
dc.subjectEQUIPMENT
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATES
dc.subjectEXPENDITURE
dc.subjectFINANCIAL ACCOUNTABILITY
dc.subjectFINANCIAL ASSISTANCE
dc.subjectFINANCIAL CONTROL
dc.subjectFINANCIAL DISCIPLINE
dc.subjectFINANCIAL INFORMATION
dc.subjectFINANCIAL INSTITUTION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL MANAGEMENT INFORMATION
dc.subjectFINANCIAL MANAGEMENT INFORMATION SYSTEM
dc.subjectFINANCIAL PERFORMANCE
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL STATEMENTS
dc.subjectFINANCIAL SUPPORT
dc.subjectFINANCIAL VIABILITY
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL MANAGEMENT
dc.subjectFISCAL POLICY
dc.subjectFISCAL PRESSURES
dc.subjectFISCAL RISKS
dc.subjectFIXED CAPITAL
dc.subjectFLOW OF INFORMATION
dc.subjectFORGIVENESS
dc.subjectGLOBAL MARKET
dc.subjectGOVERNANCE ISSUES
dc.subjectGOVERNMENT AGENCIES
dc.subjectGOVERNMENT ASSETS
dc.subjectGOVERNMENT BUDGET
dc.subjectGOVERNMENT DECISION
dc.subjectGOVERNMENT DEPARTMENTS
dc.subjectGOVERNMENT ENTITIES
dc.subjectGOVERNMENT EXPENDITURES
dc.subjectGOVERNMENT GRANTS
dc.subjectGOVERNMENT OFFICIALS
dc.subjectGOVERNMENT POLICY
dc.subjectGOVERNMENT STRATEGY
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGUARANTEES FOR LOANS
dc.subjectHOLDING
dc.subjectIMPLICIT SUBSIDIES
dc.subjectIMPLICIT SUBSIDY
dc.subjectINDEBTEDNESS
dc.subjectINFORMATION SYSTEM
dc.subjectINSOLVENCY
dc.subjectINSOLVENCY PROCEDURES
dc.subjectINSURANCE
dc.subjectINTERNAL AUDIT
dc.subjectINTERNAL AUDIT FUNCTION
dc.subjectINTERNAL AUDIT PROCEDURES
dc.subjectINTERNATIONAL DEVELOPMENT
dc.subjectINTERNATIONAL FINANCIAL INSTITUTION
dc.subjectINTERNATIONAL FINANCIAL INSTITUTIONS
dc.subjectINTERNATIONAL STANDARDS
dc.subjectINVESTMENT FUND
dc.subjectINVESTMENT RESOURCES
dc.subjectISSUANCE
dc.subjectJOINT STOCK COMPANIES
dc.subjectJOINT STOCK COMPANY
dc.subjectJOINT-STOCK COMPANIES
dc.subjectJOINT-STOCK COMPANY
dc.subjectLABOR PRODUCTIVITY
dc.subjectLEGAL DISPUTES
dc.subjectLEGAL FORM
dc.subjectLEGAL FRAMEWORK
dc.subjectLEGAL STRUCTURE
dc.subjectLEGAL SYSTEM
dc.subjectLEGISLATION
dc.subjectLEGISLATURE
dc.subjectLEVEL PLAYING FIELD
dc.subjectLIMITED LIABILITY
dc.subjectLIQUIDITY
dc.subjectLIQUIDITY PROBLEMS
dc.subjectLIVING STANDARDS
dc.subjectLOAN
dc.subjectLOAN AGREEMENT
dc.subjectLOAN GUARANTEES
dc.subjectLOCAL ECONOMY
dc.subjectLOCAL GOVERNMENTS
dc.subjectLONG-TERM INTEREST
dc.subjectMACROECONOMIC ENVIRONMENT
dc.subjectMARKET DISTORTIONS
dc.subjectMARKET ECONOMY
dc.subjectMARKET INFRASTRUCTURE
dc.subjectMARKET PRICES
dc.subjectMARKET REFORM
dc.subjectMARKET REFORMS
dc.subjectMEDIUM-TERM EXPENDITURE
dc.subjectMEDIUM-TERM EXPENDITURE FRAMEWORK
dc.subjectMINISTERS
dc.subjectMINISTRY OF FINANCE
dc.subjectMINORITY SHAREHOLDERS
dc.subjectMODERN LEGISLATION
dc.subjectMONETARY FUND
dc.subjectNATIONAL BANK
dc.subjectNATIONAL TREASURY
dc.subjectOPPORTUNITY COSTS
dc.subjectPORTFOLIO
dc.subjectPOVERTY REDUCTION
dc.subjectPRIVATE INVESTMENT
dc.subjectPRIVATE OWNERSHIP
dc.subjectPRIVATIZATION OF STATE
dc.subjectPUBLIC ADMINISTRATION
dc.subjectPUBLIC ADMINISTRATION REFORM
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC EXPENDITURE
dc.subjectPUBLIC EXPENDITURE REVIEW
dc.subjectPUBLIC EXPENDITURES
dc.subjectPUBLIC FINANCE
dc.subjectPUBLIC INSTITUTIONS
dc.subjectPUBLIC INVESTMENT
dc.subjectPUBLIC POLICIES
dc.subjectPUBLIC POLICY
dc.subjectPUBLIC RESOURCES
dc.subjectPUBLIC REVENUES
dc.subjectPUBLIC SECTOR
dc.subjectPUBLIC SECTOR ACCOUNTING
dc.subjectPUBLIC SERVICE
dc.subjectPUBLIC SPENDING
dc.subjectREFORM STRATEGY
dc.subjectREGIONAL INTEGRATION
dc.subjectREGULATORY FRAMEWORK
dc.subjectREHABILITATION
dc.subjectREMITTANCE
dc.subjectREPAYMENT
dc.subjectRETURN
dc.subjectRISK FACTORS
dc.subjectRISK MANAGEMENT
dc.subjectRISK MANAGEMENT SYSTEMS
dc.subjectSHAREHOLDER
dc.subjectSOCIAL PROTECTION
dc.subjectSOCIAL RISKS
dc.subjectSOCIAL SAFETY
dc.subjectSOCIAL SECURITY
dc.subjectSOFT BUDGET CONSTRAINTS
dc.subjectSTATE ADMINISTRATION
dc.subjectSTATE ASSETS
dc.subjectSTATE BANK
dc.subjectSTATE BUDGET
dc.subjectSTATE CONTROL
dc.subjectSTATE GUARANTEES
dc.subjectSTATE OWNERSHIP
dc.subjectSTATE PROPERTY
dc.subjectSTATE-OWNED ENTERPRISES
dc.subjectSTOCK MARKET
dc.subjectTAX
dc.subjectTAX ADMINISTRATION
dc.subjectTAX ARREARS
dc.subjectTAX AUTHORITIES
dc.subjectTAX EXEMPTIONS
dc.subjectTAX PAYMENTS
dc.subjectTAX REVENUES
dc.subjectTAXATION
dc.subjectTELECOMMUNICATIONS
dc.subjectTOTAL DEBT
dc.subjectTRANSACTION
dc.subjectTRANSITION ECONOMIES
dc.subjectTRANSPARENCY
dc.subjectTRANSPARENT PROCEDURES
dc.subjectTREASURY
dc.subjectTRUST FUND
dc.subjectTRUST FUNDS
dc.subjectVARIABLE COST
dc.subjectVOTING
dc.titleTajikistan : Fiscal Risks from State-Owned Enterprisesen
dspace.entity.typePublication
okr.date.disclosure2014-10-14
okr.date.doiregistration2025-05-07T12:05:39.662998Z
okr.doctypeEconomic & Sector Work::Public Expenditure Review
okr.docurlhttp://documents.worldbank.org/curated/en/2014/06/19766073/fiscal-risks-state-owned-enterprises
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeGovernance
okr.guid476701468119375738
okr.guid571421468119375495
okr.identifier.externaldocumentum000469775_20140707114018
okr.identifier.internaldocumentum19766073
okr.identifier.report89183
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2014/07/07/000469775_20140707114018/Rendered/PDF/891830NWP0P1475020Box385273B00OUO090.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.countryTajikistan
okr.sectorPublic Administration, Law, and Justice :: General public administration sector
okr.sectorEnergy and mining :: General energy sector
okr.sectorTransportation
okr.sectorWater, sanitation and flood protection
okr.sectorIndustry and trade
okr.themeEconomic management :: Debt management and fiscal sustainability
okr.themeEconomic management :: Macroeconomic management
okr.themePublic sector governance :: Public expenditure, financial management and procurement
okr.themePublic sector governance :: Other accountability/anti-corruption
okr.themePublic sector governance :: Managing for development results
okr.topicPublic Sector Expenditure Policy
okr.topicBanks and Banking Reform
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicPublic Sector Economics
okr.topicGovernance::National Governance
okr.topicPublic Sector Development
okr.unitKnowledge & Information Services (ITSKI)
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