Poll: Olympics and crisis
¹ 3 (2009)
Victor Kolodyazhny, president of the state corporation Olimpstroy:
As a consequence of an unstable situation on the financial markets the quantity of the organizations, willing to participate in construction of the Olympic objects, has increased 10 times. Many construction companies are suffering serious difficulties now and a government contract for them is a real way out. Today we are the organization that has 100% financing for all the objects, we do not depend on the crisis. And of course the companies will firstly come to us. Will it be possible to meet the deadline? This is out of question! The majority of objects will be constructed at the cost of investors, and their main task is to make the construction projects recouped.
To reject sponsorship is an extreme case
To justify the refusal to sponsor the Sochis Olympics Games there must be very serious reasons, and first of all problems in business. But in many kinds of business to show that you have problems is to aggravate them. So by all criteria to reject sponsorship is an extreme case. But if the economics suffers very bad times, companies will start to refuse to make investments in the Olympics and the lacking money will have to be taken from the budget. Thats no problem they will take this money: this is a political project, this is the face of the country, of the authorities and of course Putins face.
For Russia the Games is the highest priority
The Russian Federation makes a lot of financial efforts in order to make
We will do the construction works ourselves and will even help the Londoners
I havent been studying the financial problems deeply. But I dont see anything terrible for the Olympic Games in Sochi in todays crisis: the government is arranging preparation work for the Olympic Games and it will provide the required investment. Russia will finish construction of the Olympic objects in any situation on a high level with a good quality mark my words. We will make a creditable showing, do the construction works ourselves and even help the Londoners! And dont forget the following: each Olympic Games are better than the previous ones. They say that Beijing impressed everybody with its Olympic sport arenas and arranged one of the best Olympic Games. And our Olympics in Sochi will be even better. You will see!
Igor Burakov, executive director of Investment Promotion Agency of Rostov region:
Of course, during the preparation to the Games the rotation of private investors will take place. Their number can be reduced this year as a result of the crisis. But there is plenty of time for increasing the number of those who, with the first symptoms of economy recovery, will be willing to fight their ways to participation in the Olympic projects. Nevertheless, the share of State participation in the Games can be increased.
But in the connection with the fact of assets and materials, works and services costs devaluation and having bigger share of costs from States side, the final amount can be smaller than the original estimations. So it is reasonable to expect the discount of 20% or even 40% from the original Olympics budget in the beginning of 2009.
The Olympic business is profitable
The state itself will govern the process and will be able to prepare the sport objects in spite of the world crisis, inflation, other difficulties and problems. Moreover the International Olympic Committee, just like the National Olympic Committee, will be constantly controlling the construction works. Though, of course, the crisis will influence Russia to a lesser or greater degree, and to implement the planned projects for us will be more difficult than it was for the organizers of three previous Olympic Games, at which I happened to participate. But the fact that investors are interested in the Olympics as much as the sportsmen is rather comforting: the Olympics business is very profitable.
State expenses will grow by $4050 milliard
The priority of these projects is very high with the investors: refusal from them will cost them a lot. And moreover this relates to the commenced projects: those which havent been started yet are likely to be postponed, or they will be financed from the budget. In my opinion, the government should start to get ready to increase expenses for the Sochis Olympics minimum
Now everybody has problems
Now everybody has problems. Including the Englishmen in connection with their preparation for the London2012 Games. But our country will make itself safe and will find the required funds, and we will not disgrace ourselves. Many people still speak about wonderful organization of the Beijing Olympic Games2008. Yes, the Chinese impressed everybody: everything