Unprofitable SOEs in Tajikistan burdened by debt that poses risk to country’s financial stability, says World Bank
Unprofitable SOEs in Tajikistan burdened by debt that poses risk to country’s financial stability, says World Bank
Most large state-owned enterprises (SOEs) in Tajikistan are unprofitable and represent significant fiscal risks that are a danger to the country’s financial stability, according to a report by the World Bank.
The report, “Tajikistan Economic Update: Focusing on the Footprint of State-Owned Enterprises and Competitive Neutrality, Summer 2024,” concluded that as of early this year, 27 state-owned enterprises monitored by the finance ministry were burdened by a total debt of Tajikistani somoni (TJS) 60.8bn ($5.7bn). The sum is equivalent to 46.5% of Tajikistan’s 2023 gross domestic product.
Among the major debtors are:
- Barqi Tojik—the power utility’s debt stood at more than TJS 37.4bn.
- Rogun hydropower plant—the project enterprise’s debt amounted to TJS 9.3bn
- Tajik Aluminum Company (TALCO), Tajik Railways and natural gas distributor Tajiktransgaz, which had a combined debt of TJS 2.3bn.
Don’t just follow the news—understand it.
The IntelliNews PRO service includes access to reports, exclusive market data, and more news that decision-makers care about. Stay ahead of the market with IntelliNews PRO.
Sign Up NowRelated Articles
Eurasian Development Bank redeems €286mn Eurobond
The Eurasian Development Bank (EDB) said on March 26 it had fully redeemed a five-year Eurobond, meeting all obligations to investors at maturity. The bank paid a total of €286mn, covering both ... more
More than 2,000 evacuated from Iran via Azerbaijan
Dutch and Algerian embassy staff have been evacuated from Iran into Azerbaijan through the Astara border crossing on March 10, as the total number of people evacuated via the route since the start of ... more
Tajikistan’s president Rahmon not seen in public for almost two weeks, speculation over health grows
Tajikistan’s President Emomali Rahmon has not been seen in public for almost two weeks, Radio Ozodi reported on February ... more