TOPSHOT – The campaign’s official logo of the Paris bid to host the 2024 Olympic Games is seen on … [+]
As preparations for the 2024 Paris Olympics accelerate, the costs are already expected to surpass the original budget for the games.
The Olympics are infamous for such cost overruns. Last week, a public official projected that French taxpayers would eventually contribute €3 billion to the games — up from the original €1.87 billion allocated.
This includes money for the Paralympic Games which are held just after the Olympic Games that start on July 26, 2024.
Pierre Moscovici, president of France’s national audit office, made his remarks about the Olympics’ cost during a presentation to the French Senate’s Culture, Education and Sport commission.
In December, the Olympic organizing committee for the 2024 games increased its budget by 10% to €4.4 billion.
Of that official budget, €2.4 billion is public money. That includes €1.3 billion from the French government and €1.1 billion from local governments. That public money is going toward expenditures such as security, transportation, and health.
But by the time the games start next summer, Moscivici forecasted that the public contribution would be higher.
“The Games often suffer budgetary drift which puts a strain on public trust,” Moscivici said, according to the AFP.
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