TOKYO, 9 December 2013 (IRIN) – Relief will be more easily and quickly available, and the economic fallout much more manageable, if governments project and plan fiscally for potential natural disasters and their human and economic toll well in advance, experts say.

The UN Office for Disaster Risk Reduction (UNISDR) has calculated that since 2000, economies have lost as much as US$2.5 trillion due to natural hazards. In 2011 Thailand lost around 5 percent of its gross domestic product (GDP) to floods, and Japan lost some 4 percent of its GDP to the earthquake and tsunami.

The latest major disaster in the region, Typhoon Haiyan in the Philippines, is likely to cause losses of around $12.5 billion, or 5 percent of the 2012 GDP in this lower middle-income country, Margareta Wahlstrom, the Special Representative of the UN Secretary-General for Disaster Risk Reduction, told IRIN. – http://www.irinnews.org/report/99296/shrinking-the-financial-fallout-of-natural-disasters