Tokyo Olympics' budget increased by 22%

TOKYO - The final budget for the Tokyo Olympic and Paralympic Games has been increased by 22% to 1.64 trillion yen (15.8 billion US dollars) because of the postponement of the Games.

The Tokyo 2020 organizing committee said at a news conference on Tuesday that the additional cost caused by the postponement is about 294 billion yen (about 2.83 billion US dollars), with the operational cost for the delay 198 billion yen (about 1.91 billion US dollars), and the COVID-19 countermeasures cost of 96 billion yen (about 920 million US dollars).

Of all the costs, Tokyo 2020 will cover 45%, the metropolitan government 43%, and the Japanese central government will account for 12%.

The cost for COVID-19 countermeasures will be paid by the two governments, with the central government covering 58% and the Tokyo government 42%.

The Tokyo Olympics, postponed by one year due to the outbreak of the COVID-19 pandemic, will be held from July 23 to August 8, 2021.