IMF Staff Country Reports

Cyprus: Technical Assistance Report–Strengthening the Governance and Oversight of State-Owned Enterprises

Publication Date:

September 8, 2023

Electronic Access:

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Summary:

Cyprus’s government has enhanced financial oversight and governance of public entities over the past decade. Several legal and administrative measures have been implemented to support the oversight functions of the Ministry of Finance and introduce elements of good governance and accountability of public entities. As a result, the liabilities of public entities have remained stable and government guarantees have decreased. Looking ahead, the government plans to further strengthen the governance of public entities in line with best international practices. This report provides practical recommendations for improving corporate governance, enhancing accountability practices in public entities, and strengthening their financial oversight.

Series:

Country Report No. 2023/325

Subject:

Budget planning and preparation Corporate governance Economic sectors Fiscal risks International organization Monetary policy Public enterprises Public financial management (PFM) Public sector

Frequency:

regular