It’s been revealed final yr’s devastating floods throughout Australia misplaced the nation $5 billion in financial exercise earlier than including up the price of the aftermath damages.
A brand new evaluation exhibits 68 per cent of Australians stay in an space that was topic to a pure catastrophe declaration final yr.
The $5 billion loss in financial exercise was value 1 / 4 proportion level in GDP for the final monetary yr.
The 2022 floods additionally contributed to increased inflation because the final yr’s disasters drove up meals costs.
