In 2019, the stock The external debt of the State Business Sector (SEE) increased by 23.5% when compared to that observed in 2018, from USD 1,431.7 million to USD 1,768.6 million, which represents 17.95% of the stock external public debt and 12% of GDP in 2019. Among the companies in the SEE, the National Hydrocarbon Company (ENH) stands out as the one that contributes the most to the debt of this sector, with a weight of 91.4% (11% of GDP being which, excluding ENH, the external public debt of the ESS represents only 1% of GDP).
In general, it is concluded that the participation of the State (through ENH) in gas projects represents an imminent significant fiscal risk in the public treasury, both explicitly and implicitly, which imposes increasing monitoring and inspection challenges .
In 2019, the stock of the external debt of the State-Owned Enterprises (SOE) increased by 23.5% if compared to that observed in 2018, from USD 1,431.7 million to USD 1,768.6 million, which represents 17.95% of the public external debt and 12% of GDP in 2019. In the group of the SOE the National Hydrocarbon Company (ENH) stands up as one that most contributes to a debt in this sector, with 91.4 % share (11% of GDP. Without ENH, an external public debt of the SOE represents only 1% of GDP).
In general, the conclusion is that the participation of the State (through ENH) in gas projects represents a significant eminent tax risk in the general public, both explicitly and implicitly, as well as the one that imposes the challenges of monitoring and inspection of each bigger and bigger.
