Russia to Subsidize Passenger Rail Transport at 800 M USD in 2017

Russian Ministry of Finance plans allocating 49 B RUB (800 M USD) as subsidies to passenger rail transport in 2017, the RZD TV reports. Out of this amount 31 B RUB (520 M USD) will be allocated to transit transportation and 18 B RUB (280 M USD) into long-distance transportation.

The funds will be used to “reimburse the losses arising due to governmental tariff regulation for long-distance train transportation in third and second class coaches as well as transit train transportation”.

The Government also defined tentative subsidies for 2018 and 2019 - those would be 17 B RUB (268 M USD) for long-distance transportation and 30 B RUB (473 M USD) for transit transportation.