"Olimpstroy": final cost of Sochi Olympic Games amounts to 1.524 trillion roubles

The final cost of the programme of preparation to the Sochi Winter Olympic Games has amounted to 1.524 trillion roubles, including VAT. This was announced by the statement of operations for 2013, published by the state corporation "Olimpstroy". The actual rise in the cost of the 2014 Winter Olympic Games has amounted to about 400 billion roubles. This was stated by a source from the Russian Government.

According to the report, published on the website of the state corporation "Olimpstroy", by the end of 2013, almost all facilities were 100% ready. Thus, the costs of their construction published in the report can be treated as final.

When we speak of the rise in the cost of the Sochi Olympic Games, it is improper to claim "many-fold increase in spending," the newspaper "Vedomosti" quotes one of the members of the Russian Government as saying. According to the official, in 2007, the initial calculations "represented a forecast only," whereas the project documentation for most of the objects appeared only three years later.

On June 30, Russian President Vladimir Putin signed the law on exchange or transfer to federal ownership of the objects constructed with the participation of the state corporation "Olimpstroy" and privately owned.