The Prime Minister of Georgia addressed at today`s Government session the issue of optimization in state-owned enterprises.

"Optimization has been carried out in several state-owned enterprises [SOE] and management has been changed. This includes Georgian Railway JSC and various state-owned enterprises in the energy sector. We have assigned them specific reform objectives, including optimization goals. We already have preliminary data in this regard. Optimization at Georgian Railway JSC alone will result in annual savings of more than 36 million GEL. This refers solely to staff optimization-over 36 million GEL will be saved in the railway sector.

As for state-owned energy companies-such as the Electricity System, Sakrusenergo, the Energy Development Fund, ESCO, the Oil and Gas Corporation, the Gas Transportation Company and Enguri HPP -total annual savings will amount to at least 16.5 million GEL.

Combined, the total savings from these enterprises alone-Georgian Railway and energy sector SOEs-will be a minimum of 52.5 million GEL.

Similar processes should take place in other state-owned enterprises as well, not only in SOEs but also in Legal Entities of Public Law (LEPL) and Limited Liability Companies (LLC), where large-scale optimization is also possible. In just this sector, the state has identified additional annual resources worth 52.5 million GEL. These funds will, of course, support the country`s development and create new resources to further stimulate economic growth. These are preliminary figures-we believe the savings may grow further and even exceed 60 million GEL. In terms of overall optimization, if we expand the process to other SOEs, LEPLs and LLCs, the total annual savings could surpass 100 million GEL. I believe this was absolutely necessary. The process has already begun and is advancing at a rapid pace", - said Irakli Kobakhidze.