Go Finance Reporting in TOKYO - Japan's central bank governor (Bank of Japan / BoJ) Masaaki Shirakawa ensure Japan's economy will experience a contraction in the first half of 2011 was after the earthquake and tsunami.
"We estimate the production activities and GDP will decline in the first quarter and second quarter," Shirakawa said in an interview with the Wall Street Journal as quoted by AFP.
He said industrial production interruption due to the core of the problems facing the Japanese economy is a giant earthquake and tsunami last March 11 that have made as many as 26,455 dead or missing.
Natural disasters are damaging production facilities and an atomic power plant in northeastern Japan. That triggered a nuclear crisis on the world's worst since Chernobyl and electricity shortages and disruption of supply.
Shirakawa said the disruption to production could take place at least until next August because of shortage of resources caused by the nuclear crisis.
BoJ governor this comment is in line with analysts who say the disaster declaration that would force the third-largest world economy slowed in the first half. (GoFinance)
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