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Natural disasters cost the Australian economy $5 billion in 2022

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This was largely due to reduced activity in industries such as mining, agriculture, and retail trading.
Natural disasters cost the Australian economy $5 billion in 2022

Natural disasters cost the Australian economy $5 billion last year, according to new estimates from the Australian Treasury.

This was largely due to reduced activity in industries such as mining, agriculture, and retail trading.

Treasurer Jim Chalmers said yesterday that the figure “doesn’t capture the full gamut of devastation” caused by natural disasters, such as the damage of lost assets, communities, and livelihoods.

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