You're reading: City state administration: Kyiv spends Hr 5 billion on Euro 2012

Kyiv has spent Hr 5 billion of a projected Hr 8.25 billion (67.7%) on its preparations for the Euro 2012 European Football Championship, Deputy Head of Kyiv City State Administration Anatoliy Holubchenko has said.

During a briefing on Wednesday he said that Hr 3.17 billion was allocated from the national budget, and Hr 1.86 billion from the city budget. According to Holubchenko, Kyiv spend these assets over 2008-2011.

He also said that the states that had experience in hosting such big events did not cover expenditures on the preparations in the first year. In addition, a tourism boom could be seen some one to three years after the event.