Jubilant Russia counts cost of World Cup

Russia basked in the limelight Friday as the future first-time host of the World Cup in 2018, but media questioned how the country will pay the bill which they said could reach 50 billion dollars.

Vladimir Putin radiated confidence as he descended on Zurich for a news conference late Thursday, portraying Russia as a country on the upturn.

"When FIFA makes a decision, FIFA members think of the political conditions in the country. We have a stable political situation," he said. "Our economy is developing rather well." "We have enough money. Perhaps, we will need some consultations," Putin said in Zurich, estimating the event would cost around 10 billion dollars.

But Russia's own media immediately asked whether the hefty pricetag was acceptable as the country is on track to record a 4.6 percent deficit this year and already has a commitment to other extravagant projects like the Winter Olympics.

"One could accept any expenses if their structure was transparent and the project's financing controllable," wrote Nezavisimaya Gazeta daily.

Russia is currently ranked 154th on the Transparency International's corruption ranking. MOSCOW, AFP