In 2019, the economic return stood at 8.1% as against 7.4% in 2018 meanwhile profitability of stable resources stood at 25.1%. The financial rate of return recovered to 2.1%, as a result of the increase in the net profit margin. Capital productivity continued to increase in 2019, approaching the 14% mark. This performance was a result of the increase of +1.4 percentage points in the value added rate. Gross enterprise investment for financial year 2019 fell –23.6% overall compared to the previous year. In this wake, the investment rate, which relates investments to value added, fell to 56.7%, i.e. –21.9 points compared to 2018. Analysis of the major balances of enterprises’ balance sheets shows negative net cash in 2019, following a surplus cash flow in 2018. Corporate debt, assessed by the financial independence ratio, which is the ratio of financial debt to equity, accounted for 1.3 times equity in 2019. The widened debt ratio, which relates total debt to equity, fell slightly to 5.3 as against 5.9 in 2018. Over 70% of corporate debt was comprised of short–term debts.
