The highlights of 2017 FINA World ChampionshipsSport July 25, 19:37
IAAF to hear report on Russia’s reinstatement ahead of 2017 Athletics World ChampionshipSport July 25, 19:25
EU Council to discuss Nord Stream 2 project in SeptemberBusiness & Economy July 25, 19:13
Berlin preparing common European response to Siemens turbines supplies to Crimea — sourceBusiness & Economy July 25, 18:49
Finnish president: Dialog with Putin is direct and clearWorld July 25, 18:22
Summer surprises: Arctic swelters in heatwave, while resorts soak in rainBusiness & Economy July 25, 18:03
Sports minister says RUSADA doping inspectors started testing athletesSport July 25, 17:25
Arctic shelf development tops agenda of Murmansk international business weekBusiness & Economy July 25, 17:08
Trump backs investigation into Kiev’s meddling attempts to sabotage his election campaignWorld July 25, 16:57
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.