Australia Faces Economic Hit from Natural Disasters
(MENAFN) Australia estimates that the immediate economic loss caused by natural disasters in 2025 has reached USD2.2 billion, according to a report released on Monday.
This figure reflects the significant financial impact of various extreme weather events on the country's economy.
Preliminary data from the March quarter indicates that natural calamities such as Cyclone Alfred and widespread flooding across New South Wales (NSW) and Queensland have notably affected retail sales and household expenditures, according to a local broadcaster.
These disasters have disrupted everyday economic activities, leading to considerable setbacks in consumer spending.
Severe flooding in NSW in late May has resulted in damage or destruction to 10,000 homes and businesses, highlighting the extensive physical toll on communities.
Earlier, in early March, Tropical Cyclone Alfred caused broad devastation and inundation across southeastern Queensland and northern NSW, further exacerbating the crisis.
Extended periods of heavy rain led to flooding over large portions of southwest and central Queensland in late March and early April, adding to the cumulative strain on the region’s infrastructure and residents.
The government’s Disaster Assist portal records 27 distinct natural disasters occurring between January and May, including floods, storms, cyclones, and bushfires.
This extensive list underscores the widespread nature of environmental challenges facing the country.
Emergency Management Minister Kristy McBain announced that the government plans to allocate an additional USD200 million in the 2025-26 fiscal year.
These funds aim to strengthen communities’ resilience, flexibility, and readiness to better withstand the consequences of future natural disasters.
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