Tokyo Games organizers announce 1.64 tril. yen budget

The Tokyo Games organizing committee released its fifth budget on Tuesday, with the total cost of the Olympics and Paralympics increasing to 1.64 trillion yen ($15.8 billion) due to the one-year postponement over the coronavirus pandemic.The budget was raised by 294 billion yen to accommodate expenses related to setting up venues and maintaining the athletes village, including 96 billion yen allocated for countermeasures to prevent the spread of infection at next summer's games.The budget for the opening and closing ceremonies was increased by 3.5 billion yen to 16.5 billion yen despite cos…READ FULL ARTICLE