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Budget of 2020 Tokyo Olympic Games cut down to $17bln

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Budget of 2020 Tokyo Olympic Games cut down to $17bln

An organizing committee of 2020 Olympic Games in Tokyo has revised the budget for this grand sports event, New rambler reports on Wednesday.

Now, the budget will total between $15 to $16.8 billion, according to Reuters.

We should remind you that in November, 2016, the head of the organizing committee Toshiro Muto said that the Olympic budget would not exceed 2 trillion yen ($17.8 billion at the exchange rate at the time).

Earlier, it was planned to spend 3 trillion yen ($26.7 billion) on the Games, but the International Olympic Committee (IOC) made a decision that such a high cost of sports competition may deter future applicants for hosting Olympic Games.

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