Fire crisis cost could balloon: economist

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Nicholas McElroy
(Australian Associated Press)

 

The total economic losses from the bushfire crisis could top $100 billion dollars, a University of Queensland economist has estimated.

While some forecasts suggest the fires may result in $5 billion in direct private losses, Professor John Quiggin says that figure may balloon due to impacts on public infrastructure, agriculture, health, ecology, tourism and in establishing a national response.

“We’re going to have to develop a national capacity to deal with this kind of disaster and that will be costly,” Professor Quiggin told AAP on Wednesday.

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