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Riga City Council allots EUR 88.6 mln subsidy to Rigas satiksme
BC, Riga, 22.01.2015.
Print version
Print versionThe Finance Committee of the Riga City Council decided yesterday to allot a EUR 88.6 million subsidy to the municipal public transport company Rigas satiksme from the Riga budget, reports LETA.
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The said sum was calculated based on cost forecasts and the new public transportation fares. Representatives of the Finance Department of the Riga City Council estimate that income from ticket sales could be below EUR 10 million in 2015, the department's director Ilga Tiknuse informed LETA.
In addition to the EUR 88.6 million subsidy, another EUR 5.2 million will be allotted by the state, thus Rigas satiksme will receive a total of EUR 92.8 million in subsidies this year.
By allotting municipal subsidies to Rigas satiksme and other initiatives, this year's Riga budget spending has been increased by EUR 59,166,491.
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