BNS: ALMOST EUR 200 MLN INVESTED INTO TRANSPORT PROJECTS IN LITHUANIA IN H1
VILNIUS, Aug 04, BNS - Investments into transport projects as outlined in Lithuania's public investment program totaled 682.8 million litas (EUR 197.9 mln), including 298.8 million litas in the European Union (EU) structural support funds, in the first half of this year.
"Investments into transport infrastructure is a real contribution into stimulating Lithuania's economy and helping the country to survive through the downturn. Although the companies implementing transport projects encounter great difficulties, the funds being invested enable them to maintain operations and keep jobs while the taxes they pay boost the revenues of the budget," Transport Minister Eligijus Masiulis said in a statement. The major part of funds - 627.1 million litas - was assigned for road infrastructure projects. Funding for roads from the Road Maintenance and Development Program has been slashed more than twofold, to 775 million litas this year, from 1.813 billion litas in 2008.(EUR 1 = LTL 3.45)
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