Rio Olympics Organisers Slash Budget Amid Economic Crisis

Updated: 27 April 2016 15:38 IST

Olympics organisers have outlined plans to slash spending by about 10 percent to prevent next year's mega-event from running over budget.

Rio Olympics Organisers Slash Budget Amid Economic Crisis
The opening ceremonies for the 2016 Rio Olympics will have a low budget as Brazil's economy continues to show signs of weakness. © AFP

Rio de Janeiro:

Rio Olympics 2016 organisers have outlined plans to slash spending by about 10 percent to prevent next year's quadrennial extravaganza from running over budget. (Read more sports stories here)

Brazil is in a deepening economic crisis as it grapples with rising unemployment, stagnant growth and soaring inflation, Xinhua reported. A Rio 2016 budget review has called for cuts of up to 30 percent in some departments of the organising committee.

"We need to organise the Games to be economically sustainable," Rio 2016 communications director Mario Andrada said. "There's no more space for lavish overspending."

The Rio 2016 organising committee's activities are privately funded but any costs that exceed its budget will be incurred by the government.

Andrada said cuts would be made by reducing printing, dispensing with backstage structures and limiting the number of volunteers.

The construction of permanent venues, security and power supply are part of a different budget that will not be impacted, Andrada said.

Organisers plan to finalize the new spending plan by next week.



(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

Comments
Topics mentioned in this article Other Sports Olympics 2016 Olympics 2012 Olympics
Related Articles
Bangladesh vs Zimbabwe: Bangladesh Thrash Zimbabwe By Innings And 106 Runs In One-Off Test
Bangladesh vs Zimbabwe: Bangladesh Thrash Zimbabwe By Innings And 106 Runs In One-Off Test
Real Madrid vs Manchester City: Real Madrid Take On Manchester City In High-Voltage Clash
Real Madrid vs Manchester City: Real Madrid Take On Manchester City In High-Voltage Clash
"Does Not Make Sense": Kapil Dev Questions India Team Selection After Wellington Thrashing
"Does Not Make Sense": Kapil Dev Questions India Team Selection After Wellington Thrashing
Tearful Michael Jordan Commemorates "Little Brother" Kobe Bryant
Tearful Michael Jordan Commemorates "Little Brother" Kobe Bryant
Chris Lynns Reply To Being Compared To WWE Star Sends Twitter Into A Frenzy
Chris Lynn's Reply To Being Compared To WWE Star Sends Twitter Into A Frenzy
Advertisement