(Update) Noto Quake Dents Japan GDP by Up to 115 B. Yen: Govt Estimate

   Tokyo, April 23 (Jiji Press)--The Jan. 1 earthquake in the Noto Peninsula in central Japan is estimated to have dented the country's nominal gross domestic product by around 90 billion yen to 115 billion yen in three affected prefectures in January-March, the Cabinet Office said Tuesday.
   Of the total direct impact on GDP across Ishikawa, Toyama and Niigata prefectures, losses of about 80 billion yen to 90 billion yen are believed to have been suffered in Ishikawa, which was especially impacted by the 7.6-magnitude quake.
   The latest Cabinet Office estimate, included in a monthly economic report submitted to the day's meeting of economic ministers, focused on the damage resulting from people not being able to carry out ordinary production activities due to evacuations, water and power outages and damage to social capital.
   The government plans to use its reserve funds to provide seamless support for reconstruction and revitalization of quake-hit areas, deciding on an additional spending of 138.9 billion yen under its fiscal 2024 budget for the efforts the same day. This is the fourth round of spending from state reserve funds to deal with the disaster, bringing the total to more than 410 billion yen.
   The Cabinet Office released in January an estimate showing that damage caused by the tremblor to capital stock, such as buildings and social infrastructure, in the three prefectures reached around 1.1 trillion yen to 2.6 trillion yen.

(2024/04/23-19:21)

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