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rowers —SOEs, in particular—as their credit risk is mitigated either by min-
istry of finance guarantees or anticipated state support owing to their sys-
temic importance to the economy.
Employment, Job Creation, and Poverty
Job demand
greatly exceeds
supply
Robust economic growth has not translated into substantial employment gen-
eration. The total number of jobs offered on the domestic labor market in 2018
was estimated at 1,061,100.
14
However, this is well below the number of jobs
needed (more than 1.3 million).
15
Formal job crea-
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