IMF expects oil prices to grow by almost 20% in 2017Business & Economy January 16, 18:39
Russia's space agency to replace Soyuz spacecraft that will be launched to ISS in MarchScience & Space January 16, 18:23
Russian, French scientists study permafrost lakes in ArcticBusiness & Economy January 16, 18:09
Russian top doplomat calls upon leaders of Palestine’s parties to compromiseRussian Politics & Diplomacy January 16, 18:06
Siberian scientists to study Arctic 'anchor points' for development of Northern Sea RouteBusiness & Economy January 16, 17:57
IAC specialists join investigation of Tu-154 crash near SochiWorld January 16, 17:48
Russia’s top court to announce decision on Yukos case on January 19Business & Economy January 16, 17:19
Hundreds of mourners pay last respects to Aleksandrov Ensemble's conductorSociety & Culture January 16, 17:08
Poroshenko instructs ministry to file lawsuit against Russia to UN International CourtWorld January 16, 16:44
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.