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Japanese Olympic organisers to disclose cost estimate

2016-12-21 08:06

Tokyo - Japanese media say Tokyo Olympic organisers will present their first official cost estimate for the 2020 Games at a level slightly below their promised ¥2 trillion ($17 billion) cap.

The reports say organisers are expected to present an estimated total of ¥1.6 trillion to ¥1.8 trillion ($14 billion to $15 billion) at Wednesday's meeting in Tokyo.

International Olympic Committee vice-president John Coates has criticised the $17 billion cap as too high.

Coates, via video conference from Australia, will join chief organiser Yoshiro Mori, Tokyo Governor Yuriko Koike and Olympic Minister Tamayo Marukawa.

The games operational cost is expected to take up about half of the total budget.

A Tokyo government panel has warned the cost of the Olympics could exceed $30 billion - four times the initial estimate - without drastic cuts.

Read more on:    olympics 2020

 

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