IOC co-ordination commission chairman Denis Oswald told Olympics executives there would be no "knee-jerk reactions" to claims of spiralling costs.

Oswald said: "London has made a lot of progress and the timelines of the project are going to schedule.

"I believe we will see an operational budget still in line with the bid."

London 2012 leaders have faced criticism after former Olympic Delivery Authority chairman Jack Lemley complained of growing costs and political meddling.

And Culture Secretary Tessa Jowell said the cost of building the venues had risen from �2.375bn to �3.3bn.

But Oswald told an IOC executive board meeting in Kuwait City: "It would be wrong for the IOC to make knee-jerk reactions to the figures being mentioned.

"But when we discussed figures with the organisers in October we were comfortable with how things stood.

"I believe the increases mentioned have nothing to do with the Games and can be easily explained, but we will look into this more with our London colleagues in due course.

"A clear differentiation should be made between the various costs, so that it is clear which are truly Games-related costs and which are costs associated with other investments that are using the catalytic effect of the Games to make projects happen sooner and faster."