Spending will drop by eight per cent to around €1.023 billion (£885 million/$1.085 billion), according to French newspaper Le Monde.

This is due to a decrease in public funding for the preparations for Paris 2024, which will fall from €295 million (£255 million/$313 million) to €134 million (£115 million/$142 million) as the Games approach. 

Solideo, the Paris 2024 delivery works company, will then be entering its final phase.

Funding for high level sport is due to increase in 2024, however, as France eyes a strong showing at its home Games.

This will rise to €889 million (£769 million/$943 million) in the Olympic and Paralympic year, compared to €828 million (£716 million/$878 million) in 2023.

"This reflects the continuation and height of Government commitments for the success of public sports policies," the Sports Ministry said, with the increase 7.3 per cent.

France has also set aside €18 million (£15 million/$19 million) for bonuses to be paid to French medallists at Paris 2024.

Other schemes will see spending on school sport and sports promotion in France.

However, spending on sport looks set to decrease in 2025 and 2026, leading to some fearing a "hangover" following the Olympics and Paralympics.

Budget documents show a decrease of €130 million (£112 million/$137 million) in payments for sport in the two years after the Games, according to Le Monde. 

The Ministry has sought to provide calm and has claimed there is an "assurance of stability" in payment authorisations, with the decrease potentially down to the Olympics and Paralympics being over.

In June, French Sports Minister Amélie Oudéa-Castéra promised the budget for sport in the country would not be cut following the Paris 2024 Olympic and Paralympic Games.