6 Secrets Behind Croatia’s Failure to Fix State-Owned Companies

Total Croatia News

Some thoughts from Indium d.o.o. CEO Milan Račić, published on his LinkedIn page on February 22, 2017, on why Croatia is failing to fix its state-owned companies.

In the space of a quarter-century spanning 14 governments we have consistently failed to fix our state-owned enterprises (SOEs). Despite all the efficiency talk, the counsel of top Croatian economists and pressure from the outside to sell off chunks of our non-core companies, our government continues to play a supersized role in our economy.

SOEs control 30% of the total assets, contribute 18% of the total revenue and employ 12% of all employees in the country. The numbers are even bigger in certain industries, 79% of those employed in utilities and 45% of those employed in the transportation sector are employed by SOEs (EU Commission estimates).

Read the full post on LinkedIN.


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