"NATURAL disasters that devastated Australia's eastern states this summer will hit the economy harder than first thought.
Treasurer Wayne Swan has flagged more Budget pain as he produced forecasts showing the economic cost of floods and Cyclone Yasi could top $9 billion.
Mr Swan said this was about $1 billion more than previous Treasury estimates. "The cost is likely to be even larger than we initially thought," he said.
"These tragic events certainly heightened the challenges facing our economy and made the difficult task of compiling next month's Budget even more difficult."............read more here:
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