Tokyo 2020 will reveal next week that it has been unable to find cost savings for the Olympics and Paralympics, with the budget to remain at 1.35 trillion yen (about $11.9 billion), the same as outlined in its second budget, sources said.

According to organizing committee sources, even after working on identifying cost-cutting measures with the International Olympic Committee, operating costs related to issues such as transport mean that the best that Tokyo can do is to maintain the current spending levels, having been unable to find significant savings.

Organizers are expected to release the third version of the operating budget on Dec. 21.

Of the 1.35 trillion yen, it had been earlier agreed that the Tokyo Metropolitan Government and the organizing committee would shoulder 600 billion yen each, and the central government's burden being 150 billion yen.

The initial price tag for the next Summer Games announced in December 2016 was 1.5 trillion yen, excluding reserve funds. In the second version, organizers and the city of Tokyo cut 35 billion yen from the amount agreed in May 2017.