Despite the turbulence, Temer said Brazil remained an attractive place to invest, and predicted the Olympics would prove the country is on the road to recovery.

"The Games will show the world one of the major global economies at work in a mature democracy: a country with great business potential that at the same time has set the standard for policies to fight inequality," Temer said.

"Rio de Janeiro is expected to receive hundreds of thousands of visitors from Brazil and abroad during the Games, while the five "Football Cities" - Sao Paulo, Salvador, Manaus, Brasília and Belo Horizonte - will also find themselves inundated with local and foreign fans.

"Hosting events on this scale represents both a momentous accomplishment for the Brazilian people and a source of immense national pride. It should be emphasized that 60 percent, US$2.18 billion, of the total investment in the Olympic facilities were financed by the private sector. These resources and efforts will remain as legacies to the entire country."

Temer added that 85,000 security personal would ensure the Games "take place in an atmosphere of absolute peace and tranquility."