Australia: The country estimates that the immediate loss of economic activity from natural disasters so far in 2025 will be $2.2 billion, a report said Monday.
According to Anadolu Agency, partial data for the March quarter indicates that natural disasters, including Cyclone Alfred and floods across New South Wales (NSW) and Queensland states, have significantly impacted retail trade and household spending.
Massive flooding in NSW in late May has resulted in 10,000 homes and businesses being damaged or destroyed. In early March, Tropical Cyclone Alfred led to widespread damage and flooding in communities across southeastern Queensland and northern NSW. Prolonged downpours further flooded a vast area in southwest and central Queensland in late March and early April.
The government’s Disaster Assist website lists 27 separate natural disasters from January to May, encompassing flooding, storms, cyclones, and bushfires. Emergency Management Minister Kristy McBain announced that the government would allocate an additional $200 million in 2025-26 to enhance communities’ resilience, adaptability, and preparedness to cope with the impacts of natural disasters.