Infrastructure costs of Russian regions decreased by 22.3% in the first quarter of 2024 compared to the same period in 2023. writes about this RBC With reference to Sherpa Group data.
According to analysts, the total volume of such expenses from regional budgets amounted to 253.3 billion rubles.
Analysts attribute the current decline in spending to the completion of many infrastructure projects by 2024 and “more uncertainty than a year ago about the state’s plans to further develop the sector.” Additionally, the publication writes that improved financing in previous years may have had a downward impact through the use of funds for future periods.
“We believe that after the creation of new plans, that is, in the second and third quarters, the regions will begin to invest more actively in infrastructure and compensate for the decline,” the review states.
Projected industry spending for 2024 is almost 13% higher than last year’s plans.
Analysts at INFOLine-Analysts believe that the current slowdown in infrastructure investment will not be a long-term trend. In the second half of the year, Moscow-St. The dynamics will accelerate due to the high level of preparation of the St. Petersburg high-speed train line and other major projects.
At the same time, the volume of construction work in the regions increased by only 3.5% at comparable prices in the January-March period; This rate was 10% compared to the previous year. The reason for the slowdown is the completion of the construction of large facilities, the “suspension of investments” due to high interest rates, and the expectation of new plans and targets from the Federation.
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Source: Gazeta
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