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Reform Support
© EU

Supporting reforms to foster an attractive business environment and increase competitiveness.

Improving the governance of state-owned enterprises in Croatia

for the Ministry of Estate Assets

The Commission supported the Croatian authorities in improving the governance of state-owned enterprises. This followed recent EU recommendations to Croatia.

Context

State-owned enterprises play an important role in Croatia's economy. They dominate many sectors of the economy, which hampers efficient allocation and productivity growth and has a negative impact on public finances, the functioning of the markets and the provision of services.

Support to be delivered

The support was provided over 15 months. It aimed to standardise the reporting and monitoring of state-owned enterprises and train supervisory boards to monitor these enterprises'' corporate governance.

It consisted of:

  • analysing internal processes and making recommendations;
  • guidelines for regular financial reporting and monitoring the performance of state-owned enterprises; and
  • training the current and nominee Directors of these enterprises' supervisory boards.

Results achieved

Support from the Commission delivered the following results:

  • obligatory mid-term planning and regular performance reporting; and
  • training for members of the supervisory boards.
  • And is expected to have the following impact:
  • Improve the financial performance and corporate governance of state-owned enterprises.