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15 Dec, 2008 18:30

Tariffs on natural monopolies to be cut – Finance Minister

Tariffs on natural monopolies to be cut – Finance Minister

Minister of Finance Alexey Kudrin has promised to cut the tariffs on natural monopolies.

Tariffs on natural monopolies in 2009 will be 10-15 per cent lower than previously announced he said.

The cost of Russian Railway services, gas and electric power for the population will be reduced.

“The growth of tariffs will essentially be corrected towards reduction by a minimum of 10-15 per cent from the planned level”, said Kudrin.

Earlier the tariffs were expected to increase by 15-30 per cent. For example, electric power costs were due to rise by a quarter.

The minister spoke of the state’s intention to direct about 150 billion roubles support to the real sector in addition to the 175 billion allocated earlier.