MOSCOW, November 23 (Itar-Tass) — Preparations for the FIFA 2018 World Football Cup will likely cost Russia more than 625 billion roubles, State Secretary, Deputy Minister of Sports Natalia Parshikova told the State Duma, Russian parliament's lower house, on Friday.
At the current exchange rate, $ 1 is equivalent of 31.5 Russian rubles.
“According to experts’ evaluations, expenditure from the consolidated budgets of various levels is expected to constitute around 625.6 billion roubles in the current prices,” she said.
In particular, federal budget spending might total 286 billion roubles, including “44 billion roubles stipulated in the already endorsed programs that envisage, for example, construction and reconstruction of airports,” she said.
Russian regions will spend about 130 billion roubles in total.
The authorities also hope to raise a vast amount of off-budget money, about 287.8 billion roubles, for constructing hotel facilities as first priority, Parshikova said.
“Final calculations will be presented in the program for getting facilities for the World Cup ready, which the Russian president is due to adopt by an appropriate decree. The Sports Ministry has submitted the bill to the Russian government lately,” Parshikova said.