Cyclone Alfred to Cost Australia $1.2 Billion

Treasurer Jim Chalmers forecasts Cyclone Alfred will impact agriculture, construction, and the federal budget ahead of elections.

A girl walks on a flooded street in Brisbane, Australia, on March 9, 2025. Australia's east coast is experiencing severe weather as ex-Tropical Cyclone Alfred moves south. Albert Perez/Getty Images

Australia’s Treasury estimates last weekend’s Cyclone Alfred caused about $1.2 billion in economic loss for the country.

This financial setback is expected to shave approximately a quarter of a percentage point off the nation’s GDP, said Treasurer Jim Chalmers as a way of prepping Australians for the impending federal budget he is set to announce.