ECONOMY

Cost of natural disasters reached 1.6 bln euros in past two years

cost-of-natural-disasters-reached-1-6-bln-euros-in-past-two-years

Fires, floods and other natural disasters have cost the state budget €1.6 billion in the past two years, of which €500 million will be spent on the fires that erupted earlier in August.

EU programs will provide €3.5 billion to cover such events over the next five years.