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Nov 9, 2012

World Cup could cost Brazil $13.28 billion

RIO DE JANEIRO -- Brazil says the estimated cost of public spending on stadiums, airports and other infrastructure for the 2014 World Cup has been revised upward by more than $1.7 billion.

The country's Audit Court says the current $13.28 billion price tag for the tournament, which will bring matches to 12 Brazilian cities, is up nearly 15 percent from the initial estimate of $11.58 billion.

In a statement, the court said the overrun was due to the higher-than-expected cost of airport renovations and stadium construction.

The statement noted that while work on stadiums is progressing at a "satisfactory" rate, work on airports is "moving at a slow pace."

This year, the Brazilian government clashed with FIFA about the slow pace of preparations for the tournament.

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