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Russian Railways can cut 2017 spending by up to $1 billion

Staff Writer |
Russian Railways plans to reduce spending by 45–70 billion rubles in 2017, senior vice president Vadim Mikhailov said.

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“The efficiency increase program will continue in 2017 and at least about 45 billion rubles will be saved from the initial 2017 version of the financial plan… Most probably, it will be more, maybe up to 70 billion rubles,” Mikhailov said.

According to the official, Russian Railways reduced spending in 2016 by 64 billion rubles, and with measures aimed at revenue increase, total saving amounted to 91 billion rubles.

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