“In Poland and the Czech Republic alone, damages due to bad weather can reach 10 billion dollars.”, — write: www.unian.ua
In Poland and the Czech Republic alone, damages due to bad weather can reach 10 billion dollars.
Therefore, these countries have already announced immediate financial support / photo ua.depositphotos.comA week before deadly floods swept central Europe, the Czech Republic was on track to become the first country in the region since the coronavirus pandemic to significantly reduce its budget deficit to below the 3% of GDP set by EU rules. However, such a small victory is under threat, because the Czech Republic and Poland took the brunt of the worst floods in the region in the last 20 years, writes Reuters.Local officials report that infrastructure damage could amount to $10 billion in these two countries alone. According to Poland’s finance minister, the $5.6 billion allocated from EU funds will cover some, but not all, of the flood recovery costs.
“Economic losses related to extreme weather conditions are increasing the burden on public finances in the region, which is still reeling from the effects of the COVID-19 pandemic and a surge in inflation following Russia’s invasion of neighboring Ukraine in 2022,” Reuters emphasized.
At the same time, the senior vice-president of the rating agency Moody’s Ratings, Steffen Dick, emphasized that, despite the fact that the region is better prepared for floods than in the past, it has to face incidents and their economic consequences more and more often.
“There could still be an impact on government spending, depending on the ultimate damage, and some countries such as the Czech Republic and Poland have already announced immediate emergency financial support,” Dick noted.
Floods in Europe – the latest newsAs UNIAN wrote, the Danube River overflowed its banks in Budapest and began to flood the streets. In particular, footage appeared online showing that water had reached the Hungarian Parliament building. At that time, the Prime Minister of the country, Viktor Orbán, said that despite the seriousness of the situation, the Hungarian authorities have enough resources to fight the natural disaster.
It was also reported that another dam broke in Poland near the city of Paczkow as a result of heavy floods in the country. Therefore, in Lower Silesia, due to the breach of the dam between the Topol and Kozelno reservoirs, the immediate evacuation of part of the city of Pachków, located in the southwest of the country, was announced.
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