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Is it preposterous that the Sochi 2014 budget is so much?

April 26, 2017budget preposterous sochi

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Is it preposterous that the Sochi 2014 budget is so much?

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A Russian business newspaper says the 2014 Sochi Olympics budget will be more than $33 billion, nearly triple the original estimate. The newspaper Vedomosti, citing documents from the Ministry for Regional Development, reported Tuesday about $23 billion would come from the federal budget, with the rest to come from private investors. The ministry declined immediate comment. But the president of Sochi’ organizing committee, Dmitry Chernyshenko, said in a statement Tuesday that the cost is estimated at only about one-fifth of the figure. “The projected budget for construction of Olympic-related projects, including Sochi 2014 sports venues and related infrastructure, remains about 200 billion rubles as previously stated by authorities,” Chernyshenko said. “The final cost of Olympic venues will be confirmed when all contractors are selected. This will happen by the end of the year.” Almost all the arenas and other venues have to be built from scratch and the plan also requires complex infr

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A Russian business newspaper said Tuesday that holding the 2014 Winter Olympics will cost more than 1 trillion rubles ($33 billion), nearly three times the original estimate.The newspaper Vedomosti, citing documents from the Ministry for Regional Development, said almost 700 billion rubles (about $23 billion) of that would come from the federal budget, with the rest to come from private investors. The ministry declined immediate comment. But the president of Sochi’ organizing committee, Dmitry Chernyshenko, said in a statement late Tuesday that the cost is estimated at only about one-fifth of the figure. “The projected budget for construction of Olympic-related projects, including Sochi 2014 sports venues and related infrastructure, remains about 200 billion rubles as previously stated by authorities,” Chernyshenko said. “The final cost of Olympic venues will be confirmed when all contractors are selected. This will happen by the end of the year.” Almost all the arenas and other venues

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Recently, it was reported that the Sochi 2014 budget would be up to $33 billion. This is triple to what is their origiinal estimate was. Imagine if it really turns out to be that much.