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.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more