After 1994, government policy brought down inflation, stabilised public finances, and some foreign capital was attracted, however growth was still subpar. From 2004 onward, economic growth picked up significantly; both employment and capital formation increased. During the presidency of Jacob Zuma, the government increased the role of state-owned enterprises (SOEs). Some of the biggest SOEs are Eskom, the electric power monopoly, South African Airways (SAA), and Transnet, the railroad and ports monopoly. Some of these SOEs have not been profitable, such as SAA, which has required bailouts totaling R30 billion ($ billion) over the 20 years preceding 2015.