“…unfolded in waves, cyclically and selectively. In order to stop the trend of qualitative business operation performance becoming even worse (illiquidity, insolvency, reduction in long-term financial imbalance, increase in liabilities), it is necessary to carry out the prioritized structural reforms of public enterprises aimed at: depoliticizing the process of management and decision-making in enterprises (maximization of the number of employees, a high level of salaries, the maintenance of low prices for services as a social category, and the like); establishing financial discipline (improvement of legislation in the area of debt collection, tax payment, and payment of other liabilities to the state, more efficient bankruptcy proceedings, establishing the timeframe for restructuring, and the like); reducing the number of employees; business-technical consolidation (Milovanović, et al, 2020) and modernization (reduction in technical losses, reorganization and closing down the unnecessary entities which create losses, etc. ); removing price disparities; continuing the liberalization of infrastructure activities through the introduction of competition, but also modernizing, in a technical-technological sense, the production process and enhancing the efficiency of business operation for state-owned enterprises whose activity has a strategic character or the character of a natural monopoly, and for which partial privatization has been envisaged (majority state ownership); According to the 2019 IMF analysis, Serbia was at the very bottom of the list of Central and East European countries when it comes to the management of enterprises with state-owned assets (of 20 analyzed countries, it was ranked 15 th ).…”