Russia Spent Over $6 Bln on 2014 Winter Olympics - Audit Chamber

The expenditures on preparation and hosting of XXII Winter Olympic Games and XI Winter Paralympic Games totalled 324.9 billion rubles ($6.2 bln). The revenues of the Sochi-2014 Organizing Committee totaled 85.4 billion rubles ($1.6 bln).

MOSCOW (Sputnik) — Russia spent 324.9 billion rubles ($6.2 bln) on hosting the 2014 Winter Olympics and Paralympics in the Black Sea resort of Sochi, making 85.4 billion rubles ($1.6 bln) in revenues, the Audit Chamber said in a report on Friday.

"The expenditures on preparation and hosting of XXII Winter Olympic Games and XI Winter Paralympic Games…totalled 324.9 billion rubles, including 221 billion rubles ($4.2 bln) in private investments…," the report said.

The Audit Chamber also said the revenues of the Sochi-2014 Organizing Committee totaled 85.4 billion rubles ($1.6 bln), or 2.1 times more than the initial estimate.

Expenditures include construction of sports facilities and stadiums, building infrastructure, as well as organizing costs.

Russian Prime Minister Dmitry Medvedev earlier said that Russia spent about $50 billion to develop the entire Sochi region prior to the Olympics, including over $6 billion on the Games itself.

The Sochi Olympic Games were held from February 7-23, 2014, and were the first Winter Olympics held in Russia.

Russian athletes topped the medal list, winning 13 gold medals and 33 medals in total.

International Olympic Committee President Thomas Bach praised the Sochi Games success, adding that Russia had kept all the promises given, including "seamless organization," "excellent sports venues and outstanding Olympic villages."