Latvia has also promised to present five main areas for reducing expenses on the implementation of "Rail Baltica" amounting to several billion euros next Monday. In this matter, all Baltic States must also be united. "By making these decisions, we will be able to cut costs by billions, and this is exactly what Brussels expects from us to make the negotiations for funding more successful," the government stated. This is a significant step forward as all three Baltic countries are jointly addressing the issues of "Rail Baltica." "Individually we are weak. Together we are stronger, and if we reach an agreement, we can implement the project much more successfully and secure funding," emphasized a source in the Cabinet. The cost of the first phase of "Rail Baltica" in the Baltic States may reach €14.3 billion, of which €5.5 billion is in Latvia, and with indexing, it amounts to €6 billion. The total costs of the project in the Baltic States, according to the cost-benefit analysis, may reach €23.8 billion. In the previous cost-benefit analysis in 2017, the project was estimated at €5.8 billion.
