Russia cuts budget for 2018 World Cup by over $500m

June 22, 2015 9:40 AM

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Russia has slashed over $500 million from its official budget for the 2018 World Cup after cutting spending on hotels and infrastructure.

The government is curbing most areas of public spending as the economy contracts due to the low oil price.

Also read: Amid Battle With IS, Iraq Parliament Approves Next Budget

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