Fri Dec 06 17:30:03 UTC 2024: ## Russian Railways to Slash Spending by 40% Amid High Interest Rates
**MOSCOW** – Russian Railways, a state-owned monopoly, plans to significantly cut its spending by approximately 40% in 2025, according to its finance chief Tatiana Orlova. This drastic reduction follows a projected $7 billion in interest payments next year, a $4 billion increase from the previous year. The company’s 2024 investment plan totaled $12.5 billion, focused on infrastructure upgrades, including expansion of the BAM and Trans-Siberian railroads to support increased fossil fuel exports to Asia. Orlova warned that the spending cuts will impact not only the railway company itself, but also its extensive network of suppliers.
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