Expert-Grup Publishes the Independent Monitoring Report on the Implementation of the State Property Management Strategy

The report finds progress but a pace too slow to meet targets, with only part of the actions fully completed. At the start of 2025 the portfolio had 161 state enterprises and 66 companies with state participation, yet only 139 entities reported activity to the National Bureau of Statistics. State property's share of GDP rose from 9.3% in 2019 to 15.4% in 2024, though state companies' direct contribution to value added is estimated at 2.5-3% of GDP. In 2024 they held about MDL 79.5 billion in assets and MDL 54.1 billion in turnover. The number of entities was to fall from 233 to 185 by end-2027, but stood at 225 on 30 June 2025; 43 state enterprises were insolvent or in liquidation and 26 inactive, so over a third of the portfolio is dysfunctional or problematic.

Normative actions were mostly achieved, while privatisation, restructuring of unviable entities and regulation of state representation lagged. The authors warn that progress is fragile without stronger corporate governance and less political interference. They recommend faster liquidation and privatisation, updated data on inactive entities, clear performance indicators and stronger corporate governance.