The Transport Ministry attributed the decline in funding for infrastructure projects to the pressure of “unprecedented” sanctions, which led to rising materials prices, disruption of supply chains and reorientation of transport. RBC writes about this with reference to the department’s press service.
Author:
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The budget execution of the Comprehensive Plan for Modernization and Expansion of the Main Infrastructure (CPMI), according to the results of three quarters, amounted to 47 billion rubles, or 36% of the annual volume, the publication clarifies.
In 2023, the volume of funds received by KPMI in the first three quarters amounted to 109.1 billion rubles, or 57.7% of the annual volume, the publication reported citing calculations by Sherpa Group analysts. Experts explained the decrease in funding by the change of personnel in the management of the transport industry and the preparation of a new national project that will replace the KPMI and “Safe and Quality Roads.”
In the Ministry of Transport, the difference between the volume of project financing in 2024 and 2023 was due, among other things, to the granting of advance payments to contractors in the amount of 90% due to the specifics of the execution of contracts governmental.
“One of the main reasons for the decline in KPMI’s cash run rate in 2024 is also the unsatisfactory work and bankruptcy of several contractors,” the Ministry of Transport told Prime. The department is conducting claims work to resolve this issue, they added.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
