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Rio Olympics cutting costs with Brazil deep in recession

Rio Olympics cutting costs with Brazil deep in recession

By ASSOCIATED PRESS

FILE - In this July 28, 2015 file photo, children play in a water fountain next to Olympic rings at Madureira Park in Rio de Janeiro, Brazil. Some foreign ticket buyers for next year's Rio Olympics are paying higher prices than they should, failing to benefit from the steep decline in the value of the Brazilian currency against the dollar. (AP Photo/Silvia Izquierdo, File)

RIO DE JANEIRO: Olympic organizers, faced with the reality of a country deep in recession, say they are trimming costs to keep their budget balanced. To keep spending in line, officials say they will cut back on printed material, reduce staffing at dozens of test events and trim costs for the opening and closing ceremonies of the Olympics and Paralympics in Rio de Janeiro. Sidney Levy, the organizing committee's chief operating officer, tells The Associated Press 'this is a very strict budget. There'll be no excess, but we are not going to compromise the essentials.' The organizing committee's budget remains at 7.4 billion reals ($2 billion), which is for putting on the games themselves. It does not include building venues, subway lines and highways to help stage the games.