Hurricane Sandy damage cost New York $42 bn: US

Last Updated: Tuesday, November 27, 2012 - 15:16

Washington: New York Governor Andrew Cuomo said that Superstorm Sandy caused up to 42 billion dollars in devastation in the state.

He said that the state and New York City will make big requests for disaster aid from the federal government.

The cost includes 32 billion dollars for repairs and restoration, and also an additional accounting of nine billion dollars for mitigation of damage and for preventive measures for the next disastrous storm, CBS News reports.

He met with the New York’s congressional delegation on Monday to discuss the new figures that he said is ‘less than a wish list’.

Previously, administration officials had estimated in early November that the governor would request at least 30 billion dollars, the report said.

Forecasting firm IHS Global Insight estimated that the storm would cost about 20 billion dollars in damages and 10 to 30 billion dollars in lost businesses.

Another forecasting firm, Eqecat, also predicted it would cost as much as 50 billion dollars in total economic losses, it added.


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First Published: Tuesday, November 27, 2012 - 15:16

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