He said he did not expect that the city would end the year with a deficit of $100 million or more.
As it turned out, the state ended 1987-88 with a $115 million deficit and faces a similar problem next year.
Brazil is expected to end the year with a deficit of 8 percent, and expectations for growth are running under 2 percent.
The state ended the year 2003 with a deficit of $2.15 billion.
In 1976 the Montreal Games ended with a $1 billion deficit.
The last time the state ended a budget year with a deficit was in 1982-83, when the shortfall was $48 million.
Pennsylvania ended the fiscal year on June 30 with a $454 million deficit.
The theater ended the fiscal year in August with a deficit of $200,000, down from $570,000.
The last time the state ended a fiscal year with a deficit was 1983, when it had a $48 million shortfall.
In 1990, the two-week event drew more than 500,000 people, he said, but ended with a deficit of nearly $300,000.