Formula 1 will look to reduce the budget cap figure that will be introduced in 2021.
"I would have preferred a lower number," the Frenchman said. "Only three teams will be affected or will have to restrict themselves.
"It would be better to have a limit that gives all the teams the same chance, but that was not possible," Todt added.
"At least now we have a foot in the door. This budget cap is better than none, so maybe in a second step we can reduce the amount."