Japan: reconstruction of quake-hit areas exceed $50 bln

Public spending on the reconstruction of northeast Japan in the aftermath of the quake is estimated to reach $50 billion in the current fiscal year ending March, the Japanese Ministry of Agriculture, Forestry and Fisheries has announced. The Ministry forecast that spending will be centered around the construction of roads, buildings, and ports in disaster-hit zones. Spending by the central government and local governments will hit 4.2 trillion yen (about $52.8 billion) in fiscal 2012. The Japanese government had adopted a five-year plan to implement extesnive post-crisis reconstruction until 2015. (QNA)