Australia Suffers over $3.4 Billion in Losses due to Natural Disasters in 2022

Australia suffered losses of $3 billion due to floods in 2022: Report

A report published by the Australian Government on Friday estimates that the nation has suffered losses of 3 billion dollars (3,208 million euros) in 2022 due to four major floods that occurred in the country last year.

Jim Chalmers, Australia’s secretary of the Treasury, told ABC in an interview that the losses represent 0.25 percent of the national GDP and come from the loss of activity in mining, agriculture, commerce and construction due to the floods.

Around 20 people lost their lives and the authorities had declared a state of national emergency in February and March of 2022, particularly due to the floods in the state of New South Wales. The heavy rains, which mainly hit the east coast of the country, are linked to the impact of the La Niña meteorological phenomenon, which causes more rainy conditions.

The report also indicates that 68 per cent of Australians live in an area that has suffered a natural disaster in the past year. Scientists believe that extreme weather events, including fires, floods and droughts, are partly caused by climate change.

The Australian government is currently focused on the human cost of the floods and taking steps to mitigate the economic impact of the weather-related disasters.

Your email address will not be published. Required fields are marked *