RZD has launched a cost-cutting programme to reduce costs by Roubles 173.1 billion, but it is forecasting a net loss of Roubles 14.2 billion for the second quarter of this year. Nevertheless, Mr Vladimir Yakunin, RZD's president, says the railway invested Roubles 55.7 billion during the first quarter which equates to 22.3% of the annual investment budget.
