Rio state declares financial emergency, requests funding for Olympics

Rio state declares financial emergency, requests funding for Olympics

Rio de Janeiroรขโ‚ฌโ„ขs governor declared a state of financial emergency Friday and requested federal funds to help fulfill obligations for public services during the Olympics that start Aug. 5.

Emergency measures are needed to avoid รขโ‚ฌล“a total collapse in public security, health, education, transport and environmental management,รขโ‚ฌย a decree in the stateรขโ‚ฌโ„ขs Official Gazette said.

The stateรขโ‚ฌโ„ขs revenue, largely tied to the petroleum industry, slumped in the last two years as global oil prices collapsed.

The announcement followed this weekรขโ‚ฌโ„ขs visit to Rio by Brazilรขโ‚ฌโ„ขs Interim President Michel Temer, who said the federal government would ensure all obligations are met for a successful Games.

Rio is expecting about 500,000 foreign visitors during the Olympics, which has coincided with Brazilรขโ‚ฌโ„ขs worst recession since the 1930s and a political crisis that last month led to the suspension of President Dilma Rousseff.

รขโ‚ฌล“The stateรขโ‚ฌโ„ขs financial emergency in no way delays the delivery of Olympic projects and the promises assumed by the city of Rio,รขโ‚ฌย Mayor Eduardo Paes said on Twitter.

Read euronews

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