Russia slices $18bn World Cup 2018 budget

383132 Russia slices $18bn World Cup 2018 budget

The regions have requested 540 billion roubles (around $18billion) from the federal government to get ready to stage the bigevent in five years’ time.That sum turned out to be lower than earlier estimates by theSports Ministry of from 1.4 trillion to 622 billion roubles, butFirst Deputy Prime Minister, Igor Shuvalov, still called thedemands overblown.The government discussed the costs of the 2018 World Cup onWednesday, coming to the decision that only the building ofstadiums and training facilities, as well as reconstruction ofairports in host cities and the roads leading from them to thearenas will be funded from the federal budget.Those are the projects, which the state is obliged to realize inthe deal signed with FIFA after winning the World Cup bid inDecember 2010.This means that city infrastructure, traffic system and otherexpenses will be down to the regional authorities.According to an unnamed employee of the government staff, theregions have included all the possible expenses in theirapplications – from repairing sewage and reconstructions ofhospitals to building fountains.”We’re not going to finance this from the federal budget, that’swhat the regional programs for health and housing are for,” hetold Vedomosti newspaper.The source added that it’s too early to talk about the final costof Russia 2018 as no preliminary estimates have been made by thegovernment at the moment.It seems the regions, which were fighting for the right to host theWorld Cup matches hoping to get federal money, have played thewrong card, believes the director of Innovation, Infrastructure andInvestment Institute, Marina Udachina.”The experience of the [Sochi 2014] Olympic Games shows that theregional and city authorities struggle to attract funds even whenit comes to large projects –the leadership of Krasnodar Region andSochi haven’t been very successful in this field,” shesaid.Meanwhile, Udachina added that the most of the Russia 2018 hostcities need their urban environment to be improved in order tostage the event at a high level.Moscow, Kaliningrad, Kazan, Krasnodar, Nizhny Novgorod,Rostov-on-Don, Saint Petersburg, Samara, Saransk, Sochi, Volgograd,Yaroslavl and Yekaterinburg will host the World Cup matches, whichare scheduled to take place in Russia between June 8 and July 8,2018.

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Russia slices $18bn World Cup 2018 budget

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