News Agencies | Updated on: 13 February 2017, 5:27 IST
The organisers of Rio 2016 Olympics are making major financial cutbacks in order to avoid going over budget of 3.6 billion dollars.
Confirming the news, Communications Director Mario Andrada said that the days of lavish spending are over, adding that they would now be focused on controlling their budget.
According to the Guardian, the deduction would not affect the Olympic events as the focus would be on cutting the cost of infrastructure, ticket sales and the opening ceremony.
Brazil had to face widespread criticism over huge amount of money being spent for staging last year's World Cup and, therefore, Rio de Janeiro officials are leaving no stone unturned in order to avoid negative reactions.