Australia Confronts Major Economic Setback from 2025 Natural Disasters
(MENAFN) Australia is confronting an estimated immediate economic setback of $2.2 billion caused by natural disasters occurring so far in 2025, according to a report released on Monday.
Preliminary figures from the March quarter reveal that several natural catastrophes—such as Cyclone Alfred and severe flooding in New South Wales (NSW) and Queensland—have heavily affected retail sales and household expenditures, according to a local broadcaster.
The late-May flooding in NSW has resulted in damage or destruction to around 10,000 homes and commercial properties.
Earlier in March, Tropical Cyclone Alfred inflicted extensive damage and flooding across communities in southeastern Queensland and northern NSW.
Continuous heavy rainfall during late March and early April led to widespread flooding in the southwest and central regions of Queensland.
Between January and May, the government’s Disaster Assist portal recorded 27 distinct natural disaster events, including floods, storms, cyclones, and bushfires.
Emergency Management Minister Kristy McBain announced that the government plans to allocate an additional $200 million for the 2025-26 period aimed at boosting communities' ability to withstand, adjust to, and prepare for the effects of natural disasters.
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