Russian Prime Minister, Vladimir Putin, has announced that the level of investment into transport in Russia over 2009 will grow despite the economic slump.

Speaking at a conference to discuss Russia’s public road maintenance system on 14 April 2009, Putin explained that the increased investment would be a key tactic in aiding recovery. He said, “we view this approach as one of the most important anti-crisis measures that will permit to create more jobs and will also lay down the infrastructure foundation of the development of Russia’s economy.”

Total investment into the building and repair of major roads is to reach 312 billion roubles, says Putin, while the total investment overall, will be 550 billion roubles, up by more than 100 billion on the transport investment last year.

One of the central aspects of the new investment plan will be the removal of the necessity for co-finance in the development of the road systems. “The federal budget will bear 95% of the costs, while only 5% will come from regional budgets,” says Putin. He added, “last year we demanded the 20 percent co-financing from regions. The new decision will permit not to freeze public road construction even in the regions hardest hit by the crisis.”