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By VOA Published on Jun 19, 2018
0 3 mins
Phantis

The FIFA World Cup in Russia is the most expensive ever, with an official price tag of $15 billion. Close to $3 billion has been spent on 12 new or upgraded stadiums, and at least another $8 billion on infrastructure, including new roads, railroads and airports.

Is that a good return for the Russian taxpayer?

Professor Leonid Grigoryev, an economist at the Analytical Center for the Government of the Russian Federation, offers an unusual analogy.

“The discussion of the efficiency of the championship in Russia, like in Brazil, is the discussion of the economic efficiency of a wedding dress. On one hand, it’s necessary. It makes everybody happy,” Grigoryev told VOA in an interview. “The exact economic efficiency definitely cannot be defined in American quarterly financial reports. It’s a long-term story. We still hope to become not only a hockey country, but a football country.”

Brazil hosted the last World Cup at an estimated cost of $11 billion. Four years later, some of their traveling fans feel short-changed.

“Comparing Brazil with Russia, the infrastructure here is much better than ours,” Marcio Pessoa told VOA, as he enjoyed the festival atmosphere in Moscow’s Red Square.

Russia’s $15 billion investment is aimed at giving Russia an image makeover in the eyes of the world, even as it faces sanctions over its 2014 invasion of Ukraine and annexation of Crimea.

“ Putin, with all this strength, pretends that all that is not important for him — ‘Despite sanctions, we conduct such a gorgeous World Cup. Despite sanctions we go ahead…

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Russia’s record-breaking $15 billion World Cup price tag: What does it buy?
Phantis

The FIFA World Cup in Russia is the most expensive ever, with an official price tag of $15 billion. Close to $3 billion has been spent on 12 new or upgraded stadiums, and at least another $8 billion on infrastructure, including new roads, railroads and airports.

Is…

FYR Macedonia Parliament to discuss the ratification of the agreement with Greece
Phantis

The bill on the ratification of the agreement with Greece, signed in the village of Psarades in Prespes on Sunday, will be presented to the Parliament of FYROM on Tuesday. Political analysts and the media in FYROM estimate that the bill will be ratified, given that a simple majority…

FLASH NEWS

NEWS

Russia’s record-breaking $15 billion World Cup price tag: What does it buy?
Phantis

The FIFA World Cup in Russia is the most expensive ever, with an official price tag of $15 billion. Close to $3 billion has been spent on 12 new or upgraded stadiums, and at least another $8 billion on infrastructure, including new roads, railroads and airports.

Is…

FYR Macedonia Parliament to discuss the ratification of the agreement with Greece
Phantis

The bill on the ratification of the agreement with Greece, signed in the village of Psarades in Prespes on Sunday, will be presented to the Parliament of FYROM on Tuesday. Political analysts and the media in FYROM estimate that the bill will be ratified, given that a simple majority…

SHORT

NEWS

Russia’s record-breaking $15 billion World Cup price tag: What does it buy?
The FIFA World Cup in Russia is the most expensive ever, with an official price tag of $15 billion. Close
FYR Macedonia Parliament to discuss the ratification of the agreement with Greece
The bill on the ratification of the agreement with Greece, signed in the village of Psarades in Prespes on Sunday,
Challenger in Turkey vote takes campaign to Erdogan’s backyard
Turkey goes to the polls Sunday, and President Recep Tayyip Erdogan is facing his toughest test in his 16 years

SHORT

NEWS

Russia’s record-breaking $15 billion World Cup price tag: What does it buy?
The FIFA World Cup in Russia is the most expensive ever, with an official price tag of $15 billion. Close
FYR Macedonia Parliament to discuss the ratification of the agreement with Greece
The bill on the ratification of the agreement with Greece, signed in the village of Psarades in Prespes on Sunday,
Challenger in Turkey vote takes campaign to Erdogan’s backyard
Turkey goes to the polls Sunday, and President Recep Tayyip Erdogan is facing his toughest test in his 16 years
0 2 mins
Phantis
Jun 17, 2018

The foreign ministers of Greece and FYR Macedonia signed an accord Sunday to rename the former Yugoslav republic the “Republic of North Macedonia.”

The landmark accord follows decades of inconclusive talks that soured relations between the two countries and held up the admission of the Balkan state into the EU and NATO, of which Greece is a member.

The agreement still requires the approval of both parliaments and a referendum in FYR Macedonia.

“We have a historic responsibility that this deal is not held in abeyance, and I am confident that we will manage it,” Greek Prime Minister Alexis Tsipras said as he and his Macedonian counterpart Zoran Zaev received a standing ovation from guests at a lakeside ceremony.

Tsipras survived a no-confidence vote mounted by Greece’s opposition in parliament Saturday, but the depth of public emotion against the deal is strong.

Up to 70 percent of Greeks object to the compromise, an opinion poll by the Proto Thema newspaper showed Saturday.

Under the deal, Greece will lift its objections to the renamed nation joining the EU and NATO.

“Our two countries have to turn from the past and look to the future,” Zaev said. “We were bold enough to take a step…

The FIFA World Cup in Russia is the most expensive ever, with an official price tag of $15 billion. Close to $3 billion has been spent on 12 new or upgraded stadiums, and at least another $8 billion on infrastructure, including new roads, railroads and airports. Is that a good return for the Russian taxpayer? Professor Leonid Grigoryev, an economist at the Analytical Center for the Government of the Russian Federation, offers an unusual analogy.
/ Jun 19
The FIFA World Cup in Russia is the most expensive ever, with an official price tag of $15 billion. Close to $3 billion has been spent on 12 new or upgraded stadiums, and at least another $8 billion on infrastructure, including new roads, railroads and airports. Is that a good return for the Russian taxpayer? Professor Leonid Grigoryev, an economist at the Analytical Center for the Government of the Russian Federation, offers an unusual analogy.
/ Jun 19
The FIFA World Cup in Russia is the most expensive ever, with an official price tag of $15 billion. Close to $3 billion has been spent on 12 new or upgraded stadiums, and at least another $8 billion on infrastructure, including new roads, railroads and airports. Is that a good return for the Russian taxpayer? Professor Leonid Grigoryev, an economist at the Analytical Center for the Government of the Russian Federation, offers an unusual analogy.
/ Jun 19
The FIFA World Cup in Russia is the most expensive ever, with an official price tag of $15 billion. Close to $3 billion has been spent on 12 new or upgraded stadiums, and at least another $8 billion on infrastructure, including new roads, railroads and airports. Is that a good return for the Russian taxpayer? Professor Leonid Grigoryev, an economist at the Analytical Center for the Government of the Russian Federation, offers an unusual analogy.
/ Jun 19

SHORT

NEWS

Russia’s record-breaking $15 billion World Cup price tag: What does it buy?
The FIFA World Cup in Russia is the most expensive ever, with an official price tag of $15 billion. Close
FYR Macedonia Parliament to discuss the ratification of the agreement with Greece
The bill on the ratification of the agreement with Greece, signed in the village of Psarades in Prespes on Sunday,
Challenger in Turkey vote takes campaign to Erdogan’s backyard
Turkey goes to the polls Sunday, and President Recep Tayyip Erdogan is facing his toughest test in his 16 years

SHORT

NEWS

Russia’s record-breaking $15 billion World Cup price tag: What does it buy?
The FIFA World Cup in Russia is the most expensive ever, with an official price tag of $15 billion. Close
FYR Macedonia Parliament to discuss the ratification of the agreement with Greece
The bill on the ratification of the agreement with Greece, signed in the village of Psarades in Prespes on Sunday,
Challenger in Turkey vote takes campaign to Erdogan’s backyard
Turkey goes to the polls Sunday, and President Recep Tayyip Erdogan is facing his toughest test in his 16 years

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Russia’s record-breaking $15 billion World Cup price tag: What does it buy?

The FIFA World Cup in Russia is the most expensive ever, with an official price tag of $15 billion. Close to $3 billion has been spent on 12 new or upgraded stadiums, and at least another…

SPORT NEWS
VOA 19, Jun 3 mins
0 3 mins
Phantis

The FIFA World Cup in Russia is the most expensive ever, with an official price tag of $15 billion. Close to $3 billion has been spent on 12 new or upgraded stadiums, and at least another $8 billion on infrastructure, including new roads, railroads and airports.

Is that a good return for the Russian taxpayer?

Professor Leonid Grigoryev, an economist at the Analytical Center for the Government of the Russian Federation, offers an unusual analogy.

“The discussion of the efficiency of the championship in Russia, like in Brazil, is the discussion of the economic efficiency of a wedding dress. On one hand, it’s necessary. It makes everybody happy,” Grigoryev told VOA in an interview. “The exact economic efficiency definitely cannot be defined in American quarterly financial reports. It’s a long-term story. We still hope to become not only a hockey country, but a football country.”

Brazil hosted the last World Cup at an estimated cost of $11 billion. Four years later, some of their traveling fans feel short-changed.

“Comparing Brazil with Russia, the infrastructure here is much better than ours,” Marcio Pessoa told VOA, as he enjoyed the festival atmosphere in Moscow’s Red Square.

Russia’s $15 billion investment is aimed at giving Russia an image makeover in the eyes of the world, even as it faces sanctions over its 2014 invasion of Ukraine and annexation of Crimea.

“ Putin, with all this strength, pretends that all that is not important for him — ‘Despite sanctions, we conduct such a gorgeous World Cup. Despite sanctions we go ahead with the war in Syria. And the world has no right to lecture us.’ And the people enjoy that –…

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Russia’s record-breaking $15 billion World Cup price tag: What does it buy?
The FIFA World Cup in Russia is the most expensive ever, with an official price tag of $15 billion. Close
FYR Macedonia Parliament to discuss the ratification of the agreement with Greece
The bill on the ratification of the agreement with Greece, signed in the village of Psarades in Prespes on Sunday,
Challenger in Turkey vote takes campaign to Erdogan’s backyard
Turkey goes to the polls Sunday, and President Recep Tayyip Erdogan is facing his toughest test in his 16 years

SHORT

NEWS

Russia’s record-breaking $15 billion World Cup price tag: What does it buy?
The FIFA World Cup in Russia is the most expensive ever, with an official price tag of $15 billion. Close
FYR Macedonia Parliament to discuss the ratification of the agreement with Greece
The bill on the ratification of the agreement with Greece, signed in the village of Psarades in Prespes on Sunday,
Challenger in Turkey vote takes campaign to Erdogan’s backyard
Turkey goes to the polls Sunday, and President Recep Tayyip Erdogan is facing his toughest test in his 16 years
0 3 mins
Phantis

The FIFA World Cup in Russia is the most expensive ever, with an official price tag of $15 billion. Close to $3 billion has been spent on 12 new or upgraded stadiums, and at least another $8 billion on infrastructure, including new roads, railroads and airports.

Is that a good return for the Russian taxpayer?

Professor Leonid Grigoryev, an economist at the Analytical Center for the Government of the Russian Federation, offers an unusual analogy.

“The discussion of the efficiency of the championship in Russia, like in Brazil, is the discussion of the economic efficiency of a wedding dress. On one hand, it’s necessary. It makes everybody happy,” Grigoryev told VOA in an interview. “The exact economic efficiency definitely cannot be defined in American quarterly financial reports. It’s a long-term story. We still hope to become not only a hockey country, but a football country.”

Brazil hosted the last World Cup at an estimated cost of $11 billion. Four years later, some of their traveling fans feel short-changed.

“Comparing Brazil with Russia, the infrastructure here is much better than ours,” Marcio Pessoa told VOA, as he enjoyed the festival atmosphere in Moscow’s Red Square.

Russia’s $15 billion investment is aimed at giving Russia an image makeover in the eyes of the world, even as it faces sanctions over its 2014 invasion of Ukraine and annexation of Crimea.

“ Putin, with all this strength, pretends that all that is not important for him — ‘Despite sanctions, we conduct such a gorgeous World Cup. Despite sanctions we go ahead…

MORE ARTICLES

FYR Macedonia Parliament to discuss the ratification of the agreement with Greece
The bill on the ratification of the agreement with Greece,
Challenger in Turkey vote takes campaign to Erdogan’s backyard
Turkey goes to the polls Sunday, and President Recep Tayyip
Deal ending Macedonia name dispute
The foreign ministers of Greece and FYR Macedonia signed an