Russian space budget may grow this yearScience & Space May 26, 20:48
Moscow hopes London High Court will deliver judgement on Ukraine’s debt to Russia soonBusiness & Economy May 26, 20:21
Hungarian top diplomat: EU must discuss anti-Russian sanctionsWorld May 26, 19:56
Russian, French top diplomats discuss preparations for Putin’s visit to FranceRussian Politics & Diplomacy May 26, 19:47
Moscow comments on Tallinn’s move to expel Russian diplomatsRussian Politics & Diplomacy May 26, 19:43
WADA: Legendary Isinbayeva suits role of ambassador for clean sports in RussiaSport May 26, 19:33
Russia working on advanced air defense systemMilitary & Defense May 26, 19:17
WADA receives Russia’s new national anti-doping planSport May 26, 19:14
Moldova’s ruling pro-European coalition breaks upWorld May 26, 19:12
MOSCOW, January 12. /TASS/. Russia needs a large-scale increase of investments because of wear and tear of transport, energy, public utility and social infrastructure, the World Bank said in its research of the Russian economy.
"The infrastructure investment needs are staggering. Russia’s public expenditure on infrastructure amounted to less than 1.0% of GDP a year in 2012-14, while the investment needs are estimated to be about US$1 trillion-75% of Russia’s 2015 GDP," the World Bank said.
"Depreciation of capital stock, particularly in transport, energy, public utilities, and social infrastructure, is the main driver of the need for major infrastructure investment," the research says.
Russia’s transport network is vast yet unevenly distributed geographically and suffering from poor quality, the World Bank reports. "Traffic congestion on the core road network increases transportation costs and hinders urban growth by extending commuting times. The most affected regions are those that are not connected to the main railway and road transport systems or are far from the main trade and service centers in the Western part of the country," the Bank said.