Latvian Railway to need almost €142 million from the state budget over the next four years
Forecasts from Latvia's Ministry of Transport show that the company Latvijas dzelzceļš will be short of almost €142 million over the next four years. The gap would have to be covered from the state budget, and there are no plans to shrink the rail network.
The Latvian state will have to give increasing support to the railway company Latvijas dzelzceļš (LDz). Forecasts by the Ministry of Transport, submitted to the Cabinet of Ministers, indicate that over the next four years the company will lack almost €142 million.
If the forecasts come true, it will be the largest deficit LDz has ever had. The funding shortfall would have to be covered from the state budget.
The headline of the original report also states that, despite the financial burden, there are no plans to reduce the track network in the coming years, so the scale of the rail infrastructure is meant to be kept.
The figures are the ministry's projections for the coming years, so how closely they will match actual results remains to be seen.
