24 Mar 2011

Cost of rebuilding Japan put at 25T yen

10:46 am on 24 March 2011

Japan has said it will cost as much as 25 trillion yen ($US309 billion) to rebuild the country after the deadly earthquake and tsunami.

The cost is about 6% of Japan's total economic output in 2010. According to the World Bank, Japan will need up to five years to rebuild and recover from the damage caused.

The crsis has been described as the country's biggest since the end of World War II.

According to the government, the damage caused to infrastructure and the uncertainty surrounding the future of the Fukushima Daiichi nuclear plant may derail Japan's fragile economic recovery.

The Bank of Japan has issued a warning of the impact on growth. Japan's economy was already struggling to come out of recession and the global economic slowdown before the earthquake and tsunami struck on 11 March.