The implementation of the “Rail Baltica” project has faced a number of problems and a lack of funding. If the project is completed, it will happen in about 20 years, this opinion was expressed by economist Guntars Vitols in the tv3.lv podcast “Piķis un ģēvelis!”
“I roughly calculated on paper. It is clear that this project, if it is ever completed, will be completed in 20 years,” said Vitols.
The economist noted that currently there is a shortage of six billion euros for the implementation of the first phase of the project, but the amount may be higher, as “such projects become more expensive.”
“What do we know? Everything is happening within the framework of seven-year planning — this is a new financial package that we will have from 2028. The European Union will allocate money for the implementation of the project. There are currently signs that we may be allocated from 500 to 900 million euros, possibly a billion — specifically for the Latvian section. The same amount will be required from Latvia,” said Vitols.
It was previously reported that problems in the “Rail Baltica” project are planned to be studied within the framework of two new internal audits. The government agreed on this on March 10. Currently, the project is also being investigated by law enforcement agencies and the State Audit Office.
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