US EditionHuge Cost of Natural Disasters Revealed
- The Australian Treasury estimated that natural disasters in early 2025 led to a $2.2 billion reduction in economic output, with significant impacts felt in New South Wales and Queensland.
- This loss stems from events including Cyclone Alfred, widespread flooding across several regions, and prolonged downpours impacting communities in March and April 2025.
- The disasters caused damage or destruction to more than 10,000 homes and businesses, leading to a decline in economic activity that included a 0.3% reduction in retail sales in Queensland during February, as well as subdued household expenditure.
- Treasurer Jim Chalmers emphasized that the top focus of the government is supporting recovery and reconstruction efforts, while the Disaster Ready Fund will allocate $200 million in 2025-26 to enhance community resilience.
- The economic impact of recent natural disasters is expected to be reflected in the National Accounts data for the March quarter, while Minister Kristy McBain highlighted ongoing disaster relief payments and continued assistance for the communities and businesses affected.
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Natural Disasters Deal $2.2 Billion Blow to Australian Economy so Far This Year
Australia’s economy has already taken a $2.2 billion hit in 2025 from a spate of natural disasters, including Cyclone Alfred and widespread flooding across New South Wales (NSW) and Queensland, according to fresh estimates from Treasury. The losses reflect immediate declines in economic activity, particularly across retail and household spending, and are expected to weigh heavily on the March quarter figures due for release on June 4. While thes…
·New York, United States
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Natural disasters cost Australian economy an estimated $2.2 billion in 2025
Natural disasters including Cyclone Alfred and widespread flooding across NSW and Queensland have resulted in an estimated $2.2 billion loss in economic activity in 2025, according to Treasury's initial analysis.
·Sydney, Australia
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Leaning Left4Leaning Right4Center3Last UpdatedBias Distribution36% Left, 36% Right
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36% Right
L 36%
C 27%
R 36%
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