DHAKA: The Brazilian state of Rio de Janeiro has announced a financial emergency.

This announcement for state financial emergency will be less than 50 days before the Olympics.

Interim Governor Francisco Dornelles said that the ‘serious economic crisis’ threatens to stop the state from honoring commitments for the games, BBC reports on Saturday (June 18).

Most public funding for the Olympics has come from Rio's city government, but the state is responsible for areas such as transport and policing.

Interim President Michel Temer has promised significant financial help.

The governor has blamed the crisis on a tax shortfall, especially from the oil industry, while Brazil overall has faced a deep recession.

The measure could accelerate the release of federal emergency funds.

Rio state employees and pensioners are owed wages in arrears. Hospitals and police stations have been severely affected.

BDST: 1021 HRS, June 18, 2016
SAS/AKA