Russia increases World Cup budget by $600 million

 24 Oct 2017 - 17:49

Russia increases World Cup budget by $600 million

AFP

Moscow: Russia has increased the budget for the 2018 World Cup by 34.5 billion rubles ($600 million, 510 million euros), according to a decree published on the government's official site Tuesday.

The decree says that the overall cost for the preparations for the tournament will rise by 5.4 percent -- from 643.5 billion rubles to 678 billion rubles.

Russia's federal budget will allocate 390 billion rubles, while 91.9 billion rubles will come from the regional budget.

The rest will come from companies and sponsors named as "legal entities" in the decree. 

Russia already increased the World Cup budget in May by 4.7 billion rubles after slashing it by 30 billion rubles in June 2015 in the wake of the economic crisis.

The competition will be played in 12 stadiums in 11 cities from June 14 to July 15 next year.