Costs of recovery from earthquake in Japan was estimated at 150 billion dollars

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Costs of recovery from earthquake in Japan was estimated at 150 billion dollars

3M (MMM)  said costs of recovery from the earthquake in Japan may total between $ 50 to $ 150 billion. more than the projected spending after Hurricane Katrina

3M noted that because of the earthquake, Japan’s economy would suffer greatly at first, but then rebuilding of  destroyed villages and towns will have additional incentives for the growth of GDP.

Bloomberg writes that if the costs will be at the upper boundary prediction 3M, the damage from the earthquake will exceed the damage from hurricanes Rita and Katrina, which destroyed the towns and villages on the shores of the Gulf of Mexico and became one of the most destructive in U.S. history. Costs of recovery after these hurricanes the U.S. government estimated at 70-130 billion dollars.

Earlier, his assessment of the destruction in Japan gave the company AIR Worldwide, which specializes in software that simulates the risks from natural disasters. this company felt that due to the earthquake damaged the property insured at 14,5-34,6 billion (1,2-2,8 trillion yen). This estimate does not take into account the devastation of the tsunami.

Earthquake in Japan occurred on March 11. It was the most destructive in the history of the country. According to recent reports, more than 13,000 people dead or missing.

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