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International

Natural disasters cost global economy $520 billion per year: World Bank

May 29, 2017 Reprints

The World Bank Group said that the annual total cost to the global economy from natural disasters is estimated to be $520 billion, Financial Tribune reported. The United Nations International Strategy for Disaster Reduction said that direct economic losses from major disaster events such as floods, storms, earthquakes and drought were estimated at nearly $139 billion.

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Natural disasters cost global economy $520 billion per year: World Bank

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