In the case of Rio Grande do Sul, MB Associados predicts that the economy will contract by 2%, instead of the 3.5% growth it had been registering in the last 12 months until April.
Furthermore, the impact at the national level will be much greater than that which occurred with Katrina in the United States, since the economy of Rio Grande do Sul corresponds to 6.5% of the Brazilian GDP (Louisiana represents 1% of the US economy).
This year's Rio Grande do Sul tragedy, which has already caused at least 149 deaths, will have an impact on at least three fronts of the Brazilian economy: GDP growth, the agricultural sector and public accounts.
A study conducted by Bradesco predicts that the impact of the crisis in Rio Grande do Sul could reduce national GDP growth by between 0.2 and 0.3 percentage points.
Another study, carried out by the National Confederation of Municipalities, estimates the financial losses due to the floods at more than R$8.9 billion (US$1.732 million).
Bradesco estimates that 7.5% of rice production and 2.2% of soybean production in Brazil could be compromised if the worst scenarios are confirmed.
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9 w
This is really scary bearing in mind that many nations are lagging behind when it comes to deadlines and still have many billions going to drilling of fossil fuels.
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17 w
The reality is that the climate change that triggered this event is already locked in, it cannot be reversed in our life time or for generations to come. So the call to action is halt global warming urgently to save the human race - now racing toward extinction. The politicians or fossil fuel and media giants are not going to act in time, in fact they wish to return to past and pretend it doesn’t exist. In the end it will only be people power that can change course - how we consume products, how we vote, who we choose to work for, or bank with etc
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18 w
This is a clear indication of the kind of disasters we are likely to face of we do not take precautions early enough.
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18 w
It is saddening what mother nature can do to fight back..
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18 w
Climate crisis is real and the earliest we come into terms with it the better for us