Putin: Budget spending on Olympics stands at 99 billon rubles ($3,1 billion)

President Vladimir Putin has announced the official amount of money assigned for the construction of Olympic venues in Sochi - 99 billion rubles ($3,1 billion) from state coffers and 144 billion rubles ($4,5 billion) in outside investment.

"Different figures have been made because there are different ways to count and different things to count," he said during a hotline with the nation on Thursday.

"If we speak of the cost of the Olympiad itself, then 99 billion rubles ($3,1 billion) were assigned from the federal budget. And outside funds were around 144 billion rubles ($4,5 billion), I think," he said.

"That's taking into account two media villages, 14 athletic facilities and 22 support facilities," Putin said.

"On the whole work is proceeding according to schedule, facilities are being commissioned on time, all of the planned test competitions are being held," Putin said.

"I am absolutely convinced that everything required for preparing the Olympiad will be completed with due quality and on time," he said.

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