How will the disaster effect the economic growth and development of the countries?
Answers
Answer:
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Explanation:
Losses are inevitable when it comes to natural disasters. On a larger scale, a country ravaged with a natural disaster might have not enough resources to repair its land. Also, some repairs might also take time and it can cause an economy to enter a recession, which also discourages investors. Natural disasters such as earthquakes, floods, typhoons, and hurricanes inflict serious damage and so seem to be bad for the economy. For firms, natural disasters destroy tangible assets such as buildings and equipment – as well as human capital – and thereby deteriorate their production capacity.
Major natural disasters can and do have severe negative short-run economic impacts. Disasters also appear to have adverse longer-term consequences for economic growth, development and poverty reduction. But, negative impacts are not inevitable.