国际货币基金组织：吉尔吉斯斯坦：国有企业的财政风险（英文版）

State-owned enterprises (SOEs) in the Kyrgyz Republic play a significant role in the economy but also present potential fiscal risks. This paper assesses these risks through both aggregate and firm-level lenses. At the aggregate level, the total amount of liabilities of largest SOEs liabilities amounted to approximately 25 percent of GDP, raising concerns about contingent fiscal liabilities. The firm-level assessment based on key financial indicators - profitability, solvency, and liquidity-