Moldova Train Tickets to Iași Up 30%
The Moldovan Railways enterprise (CFM) announced that train tickets to Iași will increase in price by up to 30% starting May 10.
The price hike will see a third-class ticket rise to 110 lei from 90 lei, a second-class ticket to 130 lei from 100 lei, and a first-class ticket to 170 lei from 130 lei. Children will continue to receive a 50% discount on the fare. CFM operates two daily trains on this route.
This news comes after the government recently increased CFM's share capital using loans from the European Bank for Reconstruction and Development (BERD) and the European Investment Bank (EIB). The Ministry of Finance will allocate over 728,000 lei (approximately 35,000 euros) to boost the share capital of the State Enterprise "Calea Ferată din Moldova."
In addition, Minister of Infrastructure and Regional Development Andrei Spînu previously announced that the ministry will secure a loan of 35 million lei from another state institution to pay off salary arrears of Moldovan Railways employees.
CFM, the largest state-owned enterprise in Moldova with 6,000 employees, has faced financial difficulties again in the past year, accumulating new salary arrears. This led to the resignation of Oleg Tofilat as head of Moldovan Railways at the end of January, citing a lack of adequate government funding. The Public Property Agency then appointed Serghei Tomșa as the acting general director for a transitional period.
Translation by Iurie Tataru
