Negative impact of Noto earthquake reaches 115 billion yen

Negative impact of Noto earthquake reaches 115 billion yen

IT will take years before the Noto Peninsula will fully recover from the deadly New Year’s earthquake as government efforts to restore affected areas and improve the living conditions of residents continue.

According to the Cabinet Office, the disaster had a negative impact of 90 billion to 115.0 billion on the country’s GDP between January to March.

The assessments cover all key components of the economy in three prefectures, ranging from private consumption and capital investment to production and exports.

The latest figures also reflect negative economic effects as a result of declining production activities caused by evacuations, water and power outages, as well as social capital destruction.

The government on Tuesday announced its fourth round of Noto quake-linked reserve fund spending amounting to 138.9 billion yen, which brings the total to more than 410 billion yen.

The magnitude-7.5 earthquake that jolted the region on New Year’s Day killed more than 200 people and injured almost 1,300 victims.

A bigger facility will be opened by the end of June to accommodate an additional 300 people who are helping in the recovery efforts.

The Noto Peninsula disaster was considered the deadliest earthquake in Japan since the 2016 Kumamoto earthquake.


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