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Highlights
- Incessant rain continues to play havoc in Australia.
- Australia sees the worst floods in over a decade.
- At least ten people have lost their lives so far.
- As inclement weather conditions gradually shift towards Sydney, the government steps up relief efforts.
Devastating floods in Australia have caused a massive loss of life and property. The country has been hit by the worst flooding in over a decade and at least ten people have lost their lives due to the floods. Days of torrential rain has resulted in military helicopters airlifting stranded people from the affected areas.
By Tuesday (March 1), tens of thousands of people were asked to evacuate their homes, and hundreds of thousands were directed to prepare to flee as parts of Australia's southeast coast were hit by inundated floods.
On Tuesday, the Bureau of Meteorology said that thunderstorms with damaging winds and heavy to very heavy torrential rain might lead to flash flooding in several areas along the coast, including Hunter, Sydney, Illawarra, and the South Coast.
People living in these areas have been asked to keep themselves updated with the latest forecasts on the Bureau's website and BOM Weather app and follow the advice of emergency services.
It is believed that the stormy weather condition will gradually shift south towards Sydney.
Thousands of residents in affected areas are facing power shortages, while over 41,000 premises were reported to be without internet in southeast Queensland on Monday.
Premier Annastacia Palaszczuk said more storms were expected this afternoon and on the weekend, which might cause more flash flooding. She said 30,000 people across the state are still without power, and the recovery bill is expected to be over $1billion.
New South Wales Premier Dominic Perrottet said: "It is possible that we will see more people die as we move through this challenging, difficult time."
He added that he has written to Prime Minister Scott Morrison to get more funding.
Flood insurance claims continue to rise
The insurance industry is currently busy counting the cost of the damage caused due to the devastating floods over south-eastern Queensland, northern NSW, and other affected areas.
The Insurance Council of Australia (ICA) said today (March 2) that insurers have received 48,220 claims related to the flooding in South-East Queensland and the New South Wales coast.
A total of 37,807 claims are from Queensland, while remaining from New South Wales. It is expected that New South Wales figures would increase in the coming days as more policyholders would return to their homes and businesses.
Suncorp Group expects the net loss from the floods is event to be around $75 million, while Insurance Australia Group has said that the loss is likely to be $95million.
Unfavourable weather conditions hit supermarket supply chains
According to sources, the floods have hit supermarket supply chains, particularly in NSW and Queensland. Woolworths and Coles are reported to have shut down several supermarkets as a result of the direct impact of the floods. They have also implemented purchase limits in other regions. As a result, many living in disaster zones are struggling to get the basics.
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Impact of floods on Australian economy:
Meanwhile, the Australian Bureau of Statistics revealed today that the country's economy grew by 3.4% in seasonally adjusted chain volume terms in December quarter 2021. Treasurer Josh Frydenberg said this is the strongest quarterly growth rate in 46 years. Frydenberg has said that both the floods and Ukraine crisis will impact Australia's economy.
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Video Link: 7 dead in floods in Qld and NSW || Breaking News Australia || Kalkine Media
