The debt of government-owned companies is projected to reach MVR 55.8 billion by the end of 2024, according to the Privatization and Corporatization Board (PCB).
The PCB's 2024 annual report, recently released, highlights a significant increase in the debt of state-owned enterprises (SOEs) compared to the previous year. The report states that the total debt of these companies rose by 17.5 percent in 2023, reflecting a concerning financial trend.
Despite their crucial role in the Maldivian economy, the financial performance of government-owned companies declined last year. The report indicates a drop in revenue and net profit among these entities.
Currently, there are 33 government-owned companies, of which 23 are fully state-owned.
The PCB's 2024 annual report, recently released, highlights a significant increase in the debt of state-owned enterprises (SOEs) compared to the previous year. The report states that the total debt of these companies rose by 17.5 percent in 2023, reflecting a concerning financial trend.
Despite their crucial role in the Maldivian economy, the financial performance of government-owned companies declined last year. The report indicates a drop in revenue and net profit among these entities.
Currently, there are 33 government-owned companies, of which 23 are fully state-owned.
