Cancellation of G8's Sochi summit will save over 2 bln rubles in budget spending
MOSCOW. May 19 (Interfax) - Due to the cancellation of the preparations for the G8's Sochi summit, earlier set for June 4-5, the Russian federal budget will save 2.1 billion rubles in 2014, according to draft amendments to the federal budget, posted on the regulation.gov.ru website.
An explanatory note to the draft says that the Organizing Committee for preparing and maintaining Russia's presidency of the G8 group of industrialized states issued Resolution No.A4-5739P on April 5, 2014 "on the suspension from March 25, 2014 of the preparations for and holding of events within the framework of Russia's presidency of the G8."
In 2013, CJSC Interconnect Management Corporation was selected to be the sole company responsible for the fulfillment of the 2013 state orders for organizing and holding the events connected with Russia's presidency of the G8, organized by the Russian Finance Ministry.
Interconnect Management Corporation had been the sole provider of services under contract to prepare and hold the Finance Ministry's events in 2012 and 2013 connected with Russia's rotating presidency of the G20. The contract was worth 4.8 billion rubles then.
The explanatory note also says that the budget will save 2.4 billion rubles following the cancellation of the rent for the Black Sea Fleet's presence in Ukraine.