Minister requests nearly €26 million to cover Eesti Raudtee 2023 losses

Railway (photo is illustrative).
Railway (photo is illustrative). Source: ERR

Minister of Climate Kristen Michal (Reform) has submitted a request to allocate a total of €25.9 million from the government's special-purpose reserve, in order to cover losses incurred by state-owned rail operator Eesti Raudtee.

In a letter to the Ministry of Finance, Michal noted that the decision was made to underwrite AS Eesti Raudtee's losses to the tune of €25,859,000 for 2023, due to the state's obligation, as expressed in the Railways Act, to ensure the balance of revenues and expenses pertaining to the rail infrastructure concern, in its normal maintenance of a public rail system in Estonia.

Minister Michal wrote: "We are requesting the funds, €25,859,000, to be allocated to the management area of ​​the Ministry of Climate in respect of the operational costs of the area of transport performance, transport competitiveness and the mobility program, within the 2023 state budget."

Minister of Climate Kristen Michal (Reform). Source: Priit Mürk/ERR

According to forecasts, Eesti Raudtee's losses will stretch to €30.2 million for this year, €32 million in 2024, €34 million in 2025 and €38 million in 2026.

According to forecasts, the loss of Estonian Railways will reach 30.2 million this year, 32 million in 2024, 34 million in 2025 and 38 million in 2026.

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Editor: Andrew Whyte

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