Deputy PM Reveals How Much Belarus Spent On 2nd European Games

The budget of 2nd European Games in Minsk made around 840 million Belarusian rubles. The funds came from various sources – budget, bank loans, sponsorship.

So, around $400 million.

2nd european games closing

First Deputy Prime Minister Alexander Turchin revealed the numbers in a TV interview.

According to him, around 600 million, or 70% of the total 2nd European Games budget are actually an investment. For example, the funds were spent on a new student hostel in Minsk student village, new public transport that is now used by Minsk and other cities.   

“It wouldn’t be accurate to say that the money was spent exclusively on the Games,” Turchin explained.

Other 240 million rubles were spent directly on the 2nd European Games in Minsk. Of these, about half was provided by the sponsors. This money was spent on accommodation and catering for athletes.

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The final cost analysis of the budget of the 2nd European Games in Minsk will be carried at year-end, First Deputy Prime Minister said.

Earlier, the Ministry of Finance reported that 540 million Belarusian rubles were spent the 2nd European Games. Of those, half came from the state budget, about 40% was covered by loans from the Development Bank (208 million rubles), the rest was drawn from extrabudgetary sources.

Recall, when in fall of 2016 Belarus received the right to host the 2nd European Games, president Alexander Lukashenko stated that it would be necessary to spend “around $50 million” to organize and host the competition. The ballpark budget was estimated at $30-40 million.

There is no data on how much Belarus earned from hosting the European Games.

Source: TUT.BY