Impact of Natural Disasters on the Economy
- Loss of human life can lead to a decrease in the workforce to produce important and valuable things for the country.
- Disasters can destroy roads , bridges, power grids and networks of communication. this damage to infrastructure disrupts businesses, and the transportation of goods and destroy essential services.
- It can destroy crops and damage the agricultural supply chain and stocks and this will lead to bring the country in a situation of scarcity of food.
- Disasters can decrease the foreign investment in the country and as a result, the country’s economy can slow down to growth.
- Reconstruction of the destroyed Infra can cost way too government’s much to strain on the government’s budget and due to this many policies of Government government will change and will impact their country’s citizens.
- Governmentcountry’sGovernmentnational needs to borrow heavily to rebuild infra and provide relief and that leads to the high national debt.
Effects of Natural Disasters
A natural disaster is a large-scale event caused by a natural phenomenon that destroys human lives and environmental systems and causes the loss of a large number of lives at the same time, damages properties, and can destroy and disrupt economies.
In recent years many countries have experienced natural disasters several countries experienced major floods including South Africa, Nigeria, and Pakistan.
In this article, You will get to know about the Impact of Natural Disasters, Their Causes, Recent natural disasters in the world, and more about Natural Disasters Impact.