New Zealand warned on Monday the final cost of the devastating Cyclone Gabrielle, which has left at least 11 people dead, could rise above $8 billion as authorities announced emergency funding to help in the recovery efforts.
The cyclone hit the North Island's northernmost region on Feb. 12 and tracked down the east coast, inflicting widespread destruction. Prime Minister Chris Hipkins has called Gabrielle New Zealand's biggest natural disaster this century.
"The required investment to reconnect our communities and future-proof our nation's infrastructure is going to be significant and it will require hard decisions," said Hipkins at a news conference announcing an emergency NZ$300 million ($187.08 million) cyclone relief package.
Earlier on Monday Finance Minister Grant Robertson said the total cost to government could be similar to the NZ$13.5 billion (8.42 billion) it spent rebuilding Christchurch after the devastating 2011 earthquake.
Reuters
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