2020 Tokyo Games' Ceremonies May Cost 13 B. Yen
Tokyo, Feb. 15 (Jiji Press)--The 2020 Tokyo Olympic and Paralympic organizing committee on Friday agreed to raise the cap on the costs for the games' opening and closing ceremonies to 13 billion yen from 9.1 billion yen.
The committee examined an outline of the ceremony plans and concluded that the costs would far exceed the 9.1 billion yen planned at the time of the Olympic bid, officials said.
"We'll take care not to expand the total games budget," said Toshiro Muto, chief executive officer of the committee.
The total budget will be capped at 1.35 trillion yen, excluding contingency funds, according to an announcement in December last year.
The committee will consider reducing spending in other areas in the budget and dipping into so-called adjustment funds totaling 35 billion yen.
[Copyright The Jiji Press, Ltd.]