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Economy

World Bank says Indonesia forest fires cost $5.2bn in economic losses

Smoke covers forest during fires in Kapuas regency near Palangka Raya in Central Kalimantan province, Indonesia, Sept. 30.   © Reuters

JAKARTA (Reuters) -- The total damage and economic loss from forest fires in Indonesia this year amounted to at least $5.2 billion, equal to 0.5% of gross domestic product, the World Bank said in a report on Wednesday.

The estimate was based on its assessment in eight affected provinces from June to October 2019, though analysts at the multinational bank said fires had continued to rage through to November.

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