By Katya Golubkoca
The Russian government has ordered 30 billion roubles ($560 million) in cuts in spending on the 2018 World Cup finals, Russian news agencies reported on Monday.
No reason was given for the decision, but Russia has been hit by an economic downturn worsened by Western economic sanctions over the crisis in Ukraine and a fall in the global price of oil.
The news agencies, quoting a decree issued by the government, said total spending on the tournament would now be 631.5 billion roubles ($11.8 billion).
They later quoted Sports Minister Vitaly Mutko as saying the building and renovation of stadiums would …read more
Source: Cyprus Mail
