Olympics: Tokyo keeps budget at $12.6 billion, more work needed

FILE PHOTO: Cranes are seen at the New National Stadium under construction on December 19, 2018, Tokyo, Japan. (Photo by Rodrigo Reyes Marin/AFLO)

TOKYO (Reuters) - The 2020 Summer Olympics budget remains unchanged at $12.6 billion (9.9 billion pounds) after increases in some areas were offset by reductions in others, with Games organisers acknowledging on Friday that more work was needed to curb spending.

Organisers have been working to cut expenses since a study warned they could balloon to four times estimates made during the bidding process, while the International Olympic Committee (IOC) wants Tokyo to set a good example for future host cities.