Olympic Public Authority President Says Rio Games' Budget To Increase For Construction

Brazilian Olympic Public Authority (APO) Acting President Marcelo Pedroso said that the APO will "register an increase" in the budget for the Rio de Janeiro Olympic Games, according to Paulo Roberto Conde of FOLHA DE SÃO PAULO. The document will be "newly updated by the end of this month." Currently, the cost of the event, including sporting and legacy projects, is more than R$38.2B ($12.1B). Pedroso "avoided giving specific figures and confirmed that the data has yet to be compiled." The increase, however, "will occur in the cost of arena construction," which has already reached R$6.6B. Pedroso: "As more projects have had their budgets outlined, it's probable that this value increases. But I don't believe that it will be by much. We've worked hard to make sure that the total investment in the arenas does not reach R$8 million ($2.5M)" (FOLHA DE SÃO PAULO, 7/12).