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Tokyo 2020 Olympics

Tokyo Olympics budget swells to $12bn a year before games

Security and venue buildout push spending, despite cost-cutting efforts

The New National Stadium, site of the opening and closing ceremonies for the 2020 Tokyo Olympics, is slated to be completed in November. (Photo by Hirofumi Yamamoto)

TOKYO -- With a year to go until the opening ceremony, the budget for the Tokyo Summer Olympics and Paralympics has ballooned to 1.35 trillion yen ($12.5 billion) despite efforts to curb costs, while security and other issues boost outside expenses.

Event organizers face the task of ensuring that the games go on without a hitch while controlling costs. About 90% of the sporting venue construction has been completed, which is close to the schedule, and ticket sales have begun. The opening ceremony will be held on July 24, 2020.

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