Reducing economic losses from disasters has the power to transform lives


October 13 marks International Day for Disaster Risk ReductionThis day celebrates how people and communities around the world are reducing their exposure to disasters and is an initiative of the United Nations.

This year the focus is on the relation of economic loss from disaster to the global gross domestic product (GDP) with a view to reducing such loss.

 In 2017, in less than 24 hours, Hurricane Maria set back development in Dominica by destroying 226 per cent of the country’s 2016 GDP.

The housing, utilities, agriculture, commerce and tourism sectors accounted for most of the damage and losses.

These were calculated at US$1.313 billion. Hurricane Irma, some days before, had destroyed 95 per cent of the housing on Barbuda and 91% of the housing on St. Maarten.

In…

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