Sochi Olympics get over 70% of the funding needed

The Winter Olympic Games to be held in Sochi in 2014 may cost more than 1.5 trillion rubles.

"The estimated cost of the Sochi Winter Olympics was 1.526 trillion rubles as of January 1, 2013," according to a report released b the State Commission for the Sochi Winter Olympics on Friday.

"Since the program was launched, 1.136 trillion has been provided, or 74.5% of the total," the report says.

"Olympstroy has spent 111.7 billion rubles (63.95%), investors 737 billion rubles (73.4%), the Krasnodar territorial and Sochi city governments 77.7 billion rubles (71.2%), and the federal government 209.7 billion rubles (88.5%), the report says.

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