Post-Olympic Spending in Sochi to Rise to $7Bln - Report

MOSCOW, February 13 (RIA Novosti) – Russia may have to spend up to $7 billion over the next three years to maintain infrastructure and venues around the Olympic host city of Sochi, Bloomberg news agency reported Thursday.

Bloomberg cited unnamed planning officials as saying the government is not yet sure of the final bill for the Olympics partly because plans about what to do with sporting venues are not finalized.

The Winter Olympics in Sochi, the most expensive Games in modern history, is estimated to have cost around $50 billion.

President Vladimir Putin warned Monday that additional funds will not be channeled toward the development of Sochi after Olympic spending in the region comes to an end and called for more effective use of resources.

Sochi 2014: Winter Olympics venues

© RIA Novosti