Companies with a state share of more than 50% obliged to disclose financial information

The Cabinet of Ministers has adopted a decree which provides for the disclosure of basic information and indicators of the financial and economic activity of enterprises with more than 50 percent state share.

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Enterprises are required to disclose the size of their capital and the government share, the balance sheet and the financial results of the quarter and year, performance indicators, the number of jobs and the composition of the enterprise management and control bodies.

In addition, as of January 1, 2021, all enterprises with a state share must have an official website with economic, financial and other statistics and the achievement of the strategic objectives for every quarter and fiscal year.

At the end of the quarter and the year (within 40 days and until February 25 respectively), the specialized information system of the State Assets Management Agency must contain the following information:

• performance of the business plan;
• utilization of production capacity;
• taxes and payments to public trust funds;
• external debt;
• indicators of localization and execution of investment projects.