The profits from ticket sales for Eurovision 2017 may cover approximately 75% of the expenses, and a fairly low budget is needed to organize the song contest, Jaanika Merilo, an aide to the Ukrainian Infrastructure Minister, said.

"Eurovision is not only an outstanding event, but also [a form of] substantial publicity for the country and boosting of tourism, new investments and jobs. The budget is not that high compared to what is being ineffectively spent," Merilo wrote on her Facebook page.

Participation fees from the participating countries, support from the founders of the contest and ticket sales profits may cover approximately 75% of expenses, Merilo said. "Given the importance of the event in Ukraine, I strongly believe in getting money from sponsors," she said.

Merilo expressed confidence that the necessary funds will be found.

She also recalled that the contests in Sweden in 2013 and in Denmark in 2014 had cost around 15 million euro, but that the contests "were rather posh."

As reported, the Ukrainian singer Jamala, with the song '1944', won in the final of the Eurovision 2016 song contest in Stockholm on Saturday.

According to the contest rules, the next Eurovision should take place in the country, the representative of which won the previous one.

The mayors of Kyiv, Odessa, Dnipropetrovsk and Lviv have already expressed their willingness to host Eurovision 2017 in their cities.