The Rio 2016 Organizing Committee announces that its budget for the 2016 Olympic Games will be balanced at BRL 7 billion. The budget covers all expected revenue and expenses of the Rio 2016 Organizing Committee. This includes the organizing of 65 Olympic and Paralympic championships, with 16,000 athletes and officials from 204 National Olympic Committees, 4,500 technical officials, 70,000 volunteers, and over 25,000 media representative. IOC President Thomas Bach says
We congratulate Rio 2016 on announcing a balanced Games budget. We are happy to be contributing over USD 1 billion to the Games and to see that Rio is aiming to deliver its operations with only private financing. They conducted a very thorough budgeting process to reach this result and we believe that they can look forward with confidence, as they work to deliver successful Games in 2016.