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Economic cost of Queensland floods likely more than A$5bn

THE total cost of rebuilding the damage being inflicted on Queensland as a result of the current floods is “well into sort of above A$5bn (US$5bn) territory, according to State prime minister Anna Bligh yesterday, noting that “we’ve had cyclones before but we’ve never had a disaster on the scale of this one, that goes across such a large area, involving so many towns and cities at once”.

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