Cyclone Alfred Drives $1.2 Billion Budget Deficit in Australia

The cyclone's economic toll has shifted the federal budget into deficit, with recovery efforts focusing on infrastructure repairs and disaster support funding.

Treasurer Jim Chalmers confirmed Cyclone Alfred's $1.2 billion economic impact, reducing GDP growth by a quarter percentage point this quarter.
The federal budget, previously in surplus, is now projected to show a deficit due to increased disaster recovery spending.
Disaster support funding has risen to $13.5 billion, including $30 million allocated for immediate infrastructure repairs and hardship payments.
Cyclone Alfred affected five million Australians, damaged two million homes, caused 450,000 power outages, and resulted in 12 million lost work hours.
The cyclone has delayed the federal election, initially expected in March, with recovery efforts taking priority over political campaigns.