World Economy

Russia Railway to Bypass Ukraine

Russia Railway to Bypass UkraineRussia Railway to Bypass Ukraine

Russia announced plans to finance new railway tracks that bypass Ukraine. The project was listed in budget plans for spending in 2015, World Bulletin reported. Finance Minister Anton Siluanov announced the budget plans, saying that infrastructure spending including the railway project would total 500 billion roubles ($13 billion). He gave no details of the project. He raised Russia’s budget deficit projections until 2017, attributing the change to lower price forecasts for its oil exports, and warned the government would not add new revenues to its ‘rainy-day’ reserve fund this year.