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Russia’s federal motorway fund to reach 400 bln roubles in 2012

“I think the figure might go up to about 400 billion roubles,” Belozerov stressed

STAVROPOL, October 5 (Itar-Tass) —— Russia’s federal motorway funs is expected to increase to 400 billion roubles in 2012, Russian Deputy Minister of Transport Oleg Belozerov told the conference Russian Roads in the 21st Century.

In 2011, he said, the fund was about 360 billion roubles. “As of now, the figure for 2012 is 380 billion roubles, which is a considerable growth. But the figure is not final,” he said. He recalled a number of recent fiscal decisions that will make it possibly to increase the motorway fund’s funding next year.

“I think the figure might go up to about 400 billion roubles,” Belozerov stressed.

As concerns regional motorway funds, he said, the exact figures are not yet available although it is known that about 100 billion roubles of proceeds from increased gasoline excise duties will be channeled to these funds in 2012.

“In a number of regions the funding of road construction, repairs and maintenance will go up from two to six-fold,” he noted. He also said that regional motorway funds are to begin functioning from January 1, 2012, but only slightly more than 20 Russian regions have passed relevant laws. “The rest must do it the soonest possible,” Belozerov emphasized.

According to the deputy minister, spending on capital repairs and maintenance of federal highways will be doubled by 2014 to reach 192 billion roubles (against 100 billion roubles in 2011).

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