US$ 45 billion for reconstruction in Japan

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Helen Wright

10 April 2012

The Japanese government has enacted a JPY 90.3 trillion (US$ 1.1 trillion) 2012/2013 budget that includes an extra JPY 3.7 trillion (US$ 45 billion) for reconstruction and disaster mitigation costs in the wake of last March's earthquake.

Including the special account for reconstruction from the Great East Japan Earthquake, the total budget for 2012/2013 is JPY 94 trillion (US$ 1.14 trillion).

The special account includes JPY 287 billion (US$ 3.5 billion) in grants related to earthquake reconstruction, JPY 481 billion (US$ 5.8 billion) for reconstruction from the ensuing nuclear disaster at Fukushima, JPY 509 billion (US$ 6.2 billion) in additional public works and JPY 483 billion (US$ 5.9 billion) in national disaster prevention measures.

Estimates of the total cost of reconstruction work in Japan following the earthquake have been put as high as US$ 61 billion.

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