Rio Olympics 2016 today revealed a budget of 7 billion Brazilian real (£1.8 billion/$2.9 billion/€2.1 billion) for its hosting of the Summer Olympics and Paralympics.
The updated figure represents a 27 per cent increase above the original cost estimation of 5.5 billion real (£1.4 billion/$2.3 billion/€1.7 billion) for the sporting showpiece, but this is owing to introduction of four new sports - rugby sevens, golf, Paracanoe, and Paratriathlon - to the Games programme and inflation, according to the Organising Committee.
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