Economic Threats
RUSSIA FACES BUDGET DEFICIT FOR 2018 WORLD CUP
The St. Petersburg Times
Published: December 27, 2014 (Issue #
1843)
· 
Left to Right:
Russia's Sports Minister Vitaly Mutko, Moscow Mayor Sergei Sobyanin, President
Vladimir Putin and FIFA President Sepp Blatter at the Luzhniki Stadium in
Moscow on Oct. 28, 2014.
Photo: Presidential Press Service / Kremlin.ru
Photo: Presidential Press Service / Kremlin.ru
Russian Sports Minister Vitaly Mutko has
announced that a deficit in next year's budget for the 2018 FIFA World Cup
means officials must seek financial support from private donors, a news report
said Friday.
"There is a budget deficit for 2015,
so the organizing committee is counting on donations from individuals,"
Mutko said in comments carried by the online sports portal R-Sport, part of the
state-run Rossia Segodnya news agency.
Mutko's comments come after Alexei
Sorokin, head of the World Cup organizing committee, said Russia's current
economic troubles were not likely to impact preparations for the football
championship, since the budget is in foreign currency and thus untouched by
this year's drastic devaluation of the ruble currency.
The 2018 World Cup is set to be held in 11
cities throughout the country, including Moscow, St. Petersburg, Kaliningrad,
Sochi and Yekaterinburg, among others.
Projects connected to the 2018 World Cup
are estimated to cost a total of 664 billion rubles ($13 billion), with half of
that coming from Russia's federal budget, Reuters reported.
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