The budget for Argentina's Youth Olympics 2018 has been reduced by 40 percent due to the country's current economic situation, President of the International Olympic Committee (IOC) Thomas Bach said at a press conference in Buenos Aires on Saturday. «The IOC was presented with a budget of $200 million (€173m) for these Youth Olympic Games and the latest information we have is that the budget... Еще, final result, will be about 40 percent less,» Bach said, just hours before the opening ceremony of the Games that will be hosted in the Argentinian capital between 6 and 18 October. Despite the crisis, Bach encouraged Argentina to consider a possible Olympic Games bid after completing the Youth Olympics. «After these Youth Olympics, they will be in a better position to organise the Olympics,» he noted. Speaking at the press event, the IOC head underlined once again the need for cost-reducing measures for the Olympics, especially the Winter Games. «We have to continue our efforts, also as you've mentioned in particular with regard to winter sports and the Winter Games, to be more flexible in order to reduce costs and avoid the construction of sports facilities, which have no legacy,» he said.