Financial emergency ahead of Rio olympics in August
Rio de Janeiro: A financial emergency has been declared less than 50 days before the Olympics in the Rio de Janeiro city of Brazil.
The Governor, Francisco Dornelles, said that the serious economic crisis threatens to fulfil the commitments for the games. He blamed the crisis on tax shortfall especially from the oil industry.
- Police stations and hospitals have been severely affected.
- Dornelles said that this public calamity could lead to a 'total collapse' in security, health, education and other public facilities.
- A budget deficit of £3.9bn has been projected for this year.
- Rio also expects about 5 lakhs foreign visitors during Olympics.