Rio de Janeiro:
Leo Gryner, chief operating officer of the organizing committee, said Friday that as conditions now stand "we need this $700 million."
Gryner told The Associated Press earlier this week the operating budget could be as much as $4 billion. The original budget estimate of $2.8 billion was submitted before Rio won the games in 2009.
The operating budget is used to run the games and is separate from the capital budget, a mix of private and public money used to build needed infrastructure.
Gryner says any shortfall was caused by inflation and Brazil's slowing economy.
Topics mentioned in this article
Olympics 2012
Other Sports
Advertisement
Get the Latest Cricket Updates, Check Out Paralympics 2024 Medals Tally, Schedule, Results and News Updates at NDTV Sports. Like Us On Facebook Or Follow Us On Twitter For More Sports Updates. You Can Also Download The NDTV Cricket App For Android Or Ios.