Support The Moscow Times!

Russia Faces Budget Deficit for 2018 World Cup

Russia's Sports Minister Vitaly Mutko (L), President Vladimir Putin (C) and FIFA President Sepp Blatter (2nd R) listens to Moscow's Mayor Sergei Sobyanin at the Luzhniki Stadium, which is under construction, in Moscow on Oct. 28, 2014.

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.

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.