Running News Daily

Rising inflation has prompted a warning that the budget for the Paris 2024 Olympics and Paralympics is "very tight"

With tomorrow marking two years until the Olympics are due to begin in the French capital, concerns are mounting on preparations from a security and financial point of view.

AFP has reported that the Organising Committee's estimated budget for the Games has risen to €4 billion (£3.4 billion/$4.1 billion), with a source commenting: "Everything is very tight concerning the budget."

According to the unnamed source, the extent of the difficulties are expected to become clearer later this year.

Solideo, the public body charged with overseeing infrastructural projects for Paris 2024, also has a reported budget of €4 billion (£3.4 billion/$4.1 billion).

Inflation in France reached its highest level since 1991 last month, although remains lower than many other European countries.

Consumer prices rose by 5.8 per cent in the 12 months until June.

Tickets for the Games go on sale in December, and one premium partnership slot remains vacant, although it has been reported that there are hopes it could be filled by luxury goods company LVMH.

At the International Olympic Committee Session in Lausanne in May, Paris 2024 President Tony Estanguet conceded that the COVID-19 pandemic and war in Ukraine "caused major breakdowns in production and supply chains", and "generated an inflationary environment which was impossible to anticipate just a few months or weeks ago".

Budgetary issues are expected to be one of the topics examined when French President Emmanuel Macron meets other key Ministers at the Élysée Palace to discuss Paris 2024 today.

A French Presidential official told AFP that the meeting offers an opportunity "to take note of where there are weaknesses".

Concerns over security have escalated since Paris 2024 venue, the Stade de France, held the UEFA Champions League Final in May.

The match was marred by chaotic scenes which led to a delayed kick-off, led to widespread criticism of the French authorities and police, and prompted a warning in a French Senate report earlier this month that the Government and relevant bodies would be required to "draw the necessary lessons".

There are plans for around 600,000 people to watch the Opening Ceremony along the River Seine, but a police source cited in a AFP report warned that it would not be possible to secure the "nearly 7,000 officers" required, with a shortfall in the 24,000 required private security guards another stumbling block.

The Olympics in the French capital are due to run from July 26 until August 11 2024, followed by the Paralympics from August 28 until September 8.