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.
According to the committee, the costs for the opening and closing ceremonies stood at 16 billion yen in the 2012 London Games. The costs are forecast to reach 14.8 billion yen for the 2024 Paris Games and 18.4 billion yen for the 2028 Los Angeles Games.