August 5, 2004 - Of the 1,705 state enterprises whose 2003-2004 books were audited by the national accounting office, 583 were losing money, 116 had no profit, and 1006 were profitable, a statement by the national accounting office, printed in newspapers on Wednesday, said, noting that more companies would have shown negative balances, if the auditors used measures other than the companies’ own statement to calculate their profit and loss. The statement did not give details on the amount of profits and the scale of losses, but state enterprises consume 65 percent of the government’s budget for a combination of investment and “loss assistance,” and the government’s downsizing efforts have met with political, bureaucratic and financial hurdles, Radio Farda’s Paris-based economic commentator Fereydoun Khavand says.
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