Rio Mayor Eduardo Paes says by avoiding overly flashy installations and expensive perks, the Games budget is 35% less than planned. The overall budget for the sporting side of the Rio Olympics is $4.1 billion, with 80% of that from private fundsThe budget and legacy investments do not include the budget for the city’s big security deployment during the Games. The budget and legacy investments do not include the budget for the city’s big security deployment during the Games. Photo: ReutersRio de Janeiro: Authorities in recession-struck Brazil boast that they have spent more wisely on next month’s Olympics in Rio de Janeiro than past host cities. That is about average for a budget overshoot in the past four Olympics, said the report’s author, Bent Flyvbjerg.

Source: Mint July 13, 2016 10:52 UTC