The invoice of the earthquake and tsunami that devastated the country on March 11 could rise to 25,000 billion yen [200 billion] for the next three years, said the Japanese government. For comparison, the cost of damage caused by the earthquake in Kobe in 1995, had been close to 10 000 billion yen, said the Wall Street Journal.
The amount advanced by the authorities is the damage to housing, infrastructure and businesses in the north-east. The government said the disaster should cause a contraction of GDP during the first half of fiscal 2011-2012, while the reconstruction spending will support growth.
The amount advanced by the authorities is the damage to housing, infrastructure and businesses in the north-east. The government said the disaster should cause a contraction of GDP during the first half of fiscal 2011-2012, while the reconstruction spending will support growth.
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