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Robert Singletary: Larization Program is Undeniably Successful

Robert Singletary: Larization Program is Undeniably Successful

Robert Singletary, member of the Board of the National Bank of Georgia progressively estimates larization program, despite the fact that merely 3000 out of 27 000 beneficiaries are engaged in the larization program.

Member of the Board of the National Bank of Georgia announced on positive expectations of 10-point government plan and other activities of NBG to TV-company Maestro (BusinessContact). He expects activeness of beneficiaries by the end of the program. As known, final term of proposal submission expires on March 17. However, nobody announces on the prolongation of the term at this stage.

This is single-time program, subsidized by 65 million announced by the government several months ago along the excise growth on tobacco and fuel, when the exchange rate had been $1/2.7 GEL. Several point-plans have also envisaged imposing restriction from microfinance organizations and banning of online crediting, which has been corrected a bit later.