08 August 201209:12
Railway Rates Might Rise 7% in 2013
Russia’s Transport Ministry suggests raising the railway transportation rates by 7% in 2013. According to Minister Maxim Sokolov, the increase in the rates will let Russian Railways break even. ‘Given the lack of additional funding from the federal budget, the decision to raise the rates in 2013 (we propose 7%) and further indexation in accordance with the inflation rate will make it possible for Russian Railways to break even. In terms of investments, other sources of funding are needed. One should also bear in mind that this 7% rise does not account for the extra expenses stemming from the