The government predicts that in 2024, UZ will endure more than ₴12B in losses.

This is stated in the Ukrainian Railways (UZ) financial plan for next year, which has been approved by the Cabinet of Ministers. As well, it is forecast that net income will reach ₴98.6B and total income will be ₴103.2B.

After approval of the financial plan that predicts a loss, UZ will submit proposals for breaking even, including an increase in cargo transportation tariffs. The state railway company’s expenses will increase in 2024 due to higher electricity, diesel fuel, and natural gas prices combined with planned salary increases. In addition, the company’s expenses will be affected by the exchange rate difference.

At the same time, in September, the chairman of the UZ board, Yevhen Lyashchenko, stated that the company will end 2023 without a loss and even with a small profit. This has occurred despite, at the beginning of the year, UZ submitting a financial plan, which, due to the enormous social burden and restrictions on freight transportation, predicted a loss of ₴20.2B.