Flooding damages reach EUR 400 million

With 6,000 houses damaged by the recent floods and no previous home insurance, the Romanian state will have to pay out EUR 400 million to rebuild some of these houses and the other damaged caused by flooding in the country. Government representatives estimate the value of the damages could even reach EUR 450 million, according to Mediafax newswire. Flooding has affected 37 counties in Romania, especially in Moldova. The number of affected houses was close to 7,000, our of which 6,000 were damaged, 182 entirely destroyed and 851 close to collapsing. The state will help rebuild 1,000 of these houses by offering construction materials. Romania could ask for an increase in the budget deficit from the IMF after the flooding, but no official comment has been made on this possibility.