MOSCOW, December 23 (RIA Novosti) - Freight traffic on Russia's railways could fall 19% in 2009, the transportation minister said on Tuesday.
"Freight traffic could decline 19% in 2009," Igor Levitin said during government discussions on a railway investment program.
The minister also said the rail monopoly RZD could cut its investment program for 2009 from 432 billion rubles ($15.3 billion) to 225 billion rubles ($8 billion).
Levitin said the government had considered an RZD investment program in November based on a forecast of a 6% drop in freight for 2009.
He added that the rail monopoly could provide 225 billion rubles from its owner equity, however, a final decision on investment in 2009 would be made in January.
