Cyclone Alfred to cost budget $1.2 billion, hit growth and push up inflation: Chalmers

Australia faces inflation, agriculture losses after Cyclone Alfred

The Australian government has warned of impacts to the country’s economy in the wake of Cyclone Alfred that caused massive losses to infrastructure, agriculture and the dairy industries when it struck in late February. The horticultural industry was among the worst hit, with strong winds toppling and damaging hundreds of orchard trees, and floodwaters inundating farmlands on the northern coast of the state of New South Wales. As of March 17, far…

Cyclone Alfred to cost budget $1.2 billion, hit growth and push up inflation: Chalmers

The cyclone looks set to hit many household budgets – from higher building costs to damaged crops raising prices on staples like fruit and vegetables.

Cyclone Alfred to Cost Australia $1.2 Billion

Australia’s Treasury estimates last weekend’s Cyclone Alfred caused about $1.2 billion in economic loss for the country. This financial setback is expected to shave approximately a quarter of a percentage point off the nation’s GDP, said Treasurer Jim Chalmers as a way of prepping Australians for the impending Mid-Year Economic and Fiscal Outlook he is set to announce. Chalmers detailed the anticipated economic effects of the cyclone, specifical…

Ex-Cyclone Alfred blows $1.2 billion hole in upcoming federal budget

Ex-Cyclone Alfred has blown a $1.2 billion hole in the upcoming federal budget, according to Treasurer Jim ...

Jim Chalmers confirms deficit in next week's federal budget

Federal Treasurer Jim Chalmers confirms the brief era of budget surpluses will end next week, when he will hand down a budget in deficit.

'It will be substantial': Treasurer set to reveal Cyclone Alfred's damage to federal budget

Treasurer Jim Chalmers will use a speech in Brisbane on Tuesday to preview the budget which will be handed down next week, ahead of the federal election.