You are here:   Home Business And Finance Ukraine to spend $ 3.8 billion on Euro 2012 this year

Ukraine to spend $ 3.8 billion on Euro 2012 this year

E-mail Print PDF
Ukrainian President Viktor Yanukovych said Ukraine must by January spend at least $3.8 billion dollars on preparations to host its share of the Euro 2012 football championship.
"Currently it (Ukraine's Euro 2012 preparations) are in a horrible state," Yanukovych said at a Kyiv press conference. "We have to find people who can do the job."

The worst delays are in the western Ukrainian city Lviv, where work has only begun on a new stadium, and an airport overhaul is stalled because of weak financing. To get back on track Ukraine should spend $5 billion dollars on overhauling transportation, sports, and tourism infrastructure needed to support Euro 2012, but a state budget deficit and banking crisis make finding even a portion of that sum extremely difficult, Yanukovych said.

"We have to at the very minimum spend 30 billion hryvnas ($3.8 billion dollars) this year alone," he said. "Otherwise we risk shaming ourselves as hosts who are unable to greet guests in a worthy fashion." Ukraine's government would accelerate spending on Euro 2012 preparations, and "when the time comes, we will be ready," he said.
Written by: Publisher Friday, 02 April 2010 12:26 Last Updated on Friday, 02 April 2010 12:41