Japan’s economy lost $9.2B due to emergency regime

The extension of the emergency regime, which the Japanese authorities announced on May 7, will increase the country’s economic losses to 1 trillion yen (about $9.2 billion at the current exchange rate), according to the investment banking company Mizuho Securities, Report informs referring to Kyodo.

The company’s specialists calculated that the extension of the emergency regime to three prefectures and its prolongation in Tokyo and other areas would lead to additional losses of 600 billion yen ($5.5 billion). Initially, the damage from the emergency regime was estimated at 400 billion yen ($3.7 billion).

Due to the worsening epidemic situation, the Japanese government on May 7 decided to extend the emergency regime until May 31 in Tokyo and the western prefectures of Osaka, Kyoto and Hyogo, as well as extend it from May 12 to May 31 to the southwestern Fukuoka prefecture and central Aichi.