You're reading: Government cuts forecast cost of preparations for Euro 2012

The Ukrainian Cabinet of Ministers has reduced the overall forecast cost of Ukraine's preparations for hosting the Euro 2012 European Football Championship by 25.3 percent, or by Hr 37.454 billion.

According to cabinet resolution No. 382 of April 11, 2011, under which new wording of supplements 1-3 to the state program on preparations for and hosting the Euro 2012 in Ukraine, the overall forecast cost of country’s preparations for the championship is Hr 110.440 billion.

According to the document, in particular, the government reviewed the financing of the program for 2010, having cut it by Hr 23.173 billion, to Hr 34.410 billion.

At the same time, the government decreased the financing for 2011 by UAH 14.359 billion, to Hr 5.804 billion, and increased the financing for 2012 by Hr 3.201 billion, to Hr 13.289 billion.

On the whole, according to the program, the allocation of state funds was reduced by more than Hr 12 billion, funds from local budgets by almost Hr 2 billion, and funds from other sources by Hr 23.4 billion.

As reported, the cabinet under its resolution No. 336 of March 21 increased the estimated cost of the construction of Lviv stadium and the reconstruction of Donetsk airport by over Hr 1 billion. Thus, the new forecast cost of preparations for the Euro 2012 rose by 0.7%, to Hr 147.895 billion.