Japan’s fresh virus emergency to cost economy 1 tril. yen

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Kyodo News

Japan’s latest coronavirus state of emergency covering Tokyo, declared by the government Thursday, could cost the economy around 1 trillion yen ($9.1 billion), according to economists’ estimates. The government’s decision to place the Japanese capital under a fourth state of emergency and extend an emergency in the southern island prefecture of Okinawa will cut private consumption by 1.2 trillion yen, said Toshihiro Nagahama, chief economist at the Dai-ichi Life Research Institute. “It’s inevitable that due to the (latest state of) emergency, there will be more pressure to restrict economic ac…

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