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Cost of natural disasters quadrupled over last three decades: E.U. Official

June 6, 2014 - 6:00am

The average annual cost of natural catastrophes has gone up from $50 billion in the 1980s to $200 billion in the last decade, Kristalina Georgieva, European Commissioner for humanitarian aid and crisis response, said.

Costs surpassed $200 billion during three out of the last four years, The Associated Press reported. Benigno Aquino III, President of the Philippines, said climate change effects are getting worse, with typhoons becoming more frequent and destructive.

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