Reforms in Ukraine: National Bank of Ukraine saves $490 million UAH via 5,720 staff redundancies

By Reforms in Ukraine, which collects and posts all reforms in Ukraine since the Maidan revolution
Posted: 12.07.2015
Translated and edited by Voices of Ukraine
Reform enacted by: The National Bank of Ukraine

The NBU intends to reduce 1.2 thousand staff before the end of the year (2015) as a result of the abolition of non-key functions of the controller.

Valeria Gontareva

Valeria Gontareva

This was reported by Head of NBU Valeria Gontareva in her presentation on the topic of “Reform of NBU: An Example of Success,” at a session of the National Reform Council on December 4, according to “Interfax–Ukraine.”

“Since 2014, 5,270 staff of the NBU (-45%) have already been removed from the structure of the NBU, nearly 1.2 thousand more are scheduled to be removed before the end of 2015 (-55% in total),” she stated in the presentation.

According to the presentation, as a result of the abolition of non-essential regulatory functions, 490 mil. UAH will be saved per year. In particular, as a result of the withdrawal of the NBU University of Banking and the NBU Ukrainian Academy of Banking beyond NBU control – they are being transferred under the control of the Ministry of Education and Science – there will be savings of around 299.8m UAH, for Channel BTB – 61.8m UAH, for transport services – 42.8m UAH.

As of January 1, 2015 the number of NBU staff numbered 8,887 thousand people.

Reform Source: Economic Pravda
Translation Source: Reforms in Ukraine

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