Australia

2022 floods cost Australia over $5 billion #floods #cost #Australia #billion #englishheadline


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It’s been revealed last year’s devastating floods across Australia lost the country $5 billion in economic activity before adding up the cost of the aftermath damages.

A new analysis shows 68 per cent of Australians live in an area that was subject to a natural disaster declaration last year.

The $5 billion loss in economic activity was worth a quarter percentage point in GDP for the last financial year.

The 2022 floods also contributed to higher inflation as the last year’s disasters drove up food prices.

English Headline

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