TOKYO (REUTERS) - Tokyo Olympic organisers unveiled a budget of 1.6 trillion yen to 1.8 trillion yen (S$19.7 billion to S$22.1 billion) for the 2020 Summer Games on Wednesday (Dec 21).
This down from last month's proposal of as much as 2 trillion yen, after they came under pressure to cut costs.
The figure is still more than double the original estimate made during the bidding process, although that had not included security and transportation costs.
A Tokyo city government panel had estimated in September that costs could balloon to as much 3 trillion yen. The IOC is worried that such lofty figures could scare off future bidders and had called for a sharp reduction.