Disaster likely to be world's costliest
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The government said the cost of the earthquake and tsunami that devastated northeast Japan could reach ¥25 trillion ($309 billion), making it the world's most expensive natural disaster on record.
The extensive damage to housing, roads, utilities and businesses across seven prefectures has resulted in direct losses of between ¥16 trillion ($198 billion) and ¥25 trillion, according to a Cabinet Office estimate March 23.
If the government's projection proves correct, it would top the losses from Hurricane Katrina. The 2005 megastorm that ravaged New Orleans and the surrounding region cost $125 billion, according to the Insurance Information Institute.
The overall economic impact could be higher as the estimate does not include the impact of power shortages and other issues. (AP)
震災被害額、自然災害で世界最大の可能性
内閣府は3月23日、東日本大震災による被害総額は25兆円と世界最大規模になる可能性があるという試算を発表した。
Shukan ST: April 01, 2011
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