Administrative Expenses of the National Bank of Georgia have been Significantly Reduced

Administrative Expenses of the National Bank of Georgia have been Significantly Reduced

22 February, 2008

According to the information of the National Bank of Georgia one of the stages of reforming the administrative expenses has been completed. As the Head of the Administrative Department of the National Bank of Georgia, Ms. Rusudan Zurabashvili declared, applied measures envisaged the growth of the effectiveness of transportation and communication expenses. As a result of these measures it became possible to save total 500 000 Lari (transportation expenses - 200 000, communication expenses - 300 000) in a year. It is planned to spend the part of the resources saved from the transportation in the area of the health insurance of NBG personnel. 

As Mr. Amaglobeli, the Acting President of the National Bank of Georgia noted, the National Bank of Georgia intends to pay a special attention to the growth of the effectiveness of its activities and control of administrative expenses in future too. In its own turn, it will stimulate the reduction of expenses in such a way, as not to make a negative influence on the activities of the National Bank of Georgia. In certain cases it will become possible to improve the fulfillment of some operations. Currently, the work on other similar projects is underway too. As a result of their fulfillment, substantial resources shall be saved. The public shall be informed about the further developments and results thereof.