Tokyo — Tokyo Olympic organisers unveiled a budget of ¥1.6-trillion to ¥1.8-trillion ($15bn-$16.8bn) for the 2020 Summer Games on Wednesday, down from November’s proposal of as much as ¥2-trillion, 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 International Olympic Committee is worried such lofty figures could scare off future bidders and had called for a sharp reduction. Reuters

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