The International Monetary Fund (IMF) stated on Thursday that the devastating floods in eastern Spain on October 29 will have a “limited impact” on the country’s economic growth.

“Our assessment is that the economic impact was quite localized, and damage to key infrastructure, such as transportation and industry, has been relatively limited,” said IMF spokesperson Julie Kozack during a press briefing in Washington.

Kozack added that preliminary evaluations suggest the overall effect on Spain’s economic growth “would be limited,” though no specific figures were provided.

In its latest forecast on October 23, the IMF projected Spain’s economy to grow by 2.9% this year, one of the highest rates in the European Union. The organization will update its data in January and is expected to confirm Spain’s “relatively solid” growth, according to Kozack.

However, on Wednesday, Bank of Spain Governor José Luis Escrivá estimated that the floods, which claimed 228 lives and caused immense damage—especially in the Valencia region—could trim 0.2 percentage points off Spain’s GDP growth in the fourth quarter.

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Escrivá’s estimate draws on comparisons with Hurricane Katrina, which devastated New Orleans in 2005, and the fact that the affected areas represent “approximately 2% of the Spanish economy.”

The Spanish government has forecasted a 2.7% growth rate for 2023.

The Lebanese Ministry of Health announced that 52 people were killed on Thursday due to Israeli airstrikes, with 40 of the fatalities occurring in the Bekaa Valley in the east and 12 more in the south.

“The enemy’s bombings in Baalbek district resulted in 40 deaths and 52 injuries,” the ministry stated, detailing casualty figures across 10 localities.

In two additional reports, the ministry noted “seven deaths and 24 injuries” in the Nabatieh region and “five deaths and 26 injuries” in other areas of southern Lebanon.

Hezbollah opened a front against Israel in solidarity with Hamas following the outbreak of the war in Gaza on October 7, 2023. The conflict began after Hamas launched an attack on Israeli territory.

Congressman Matt Gaetz announced his withdrawal from consideration for the position of Attorney General of the United States, expressing gratitude to President-elect Donald Trump for his confidence in nominating him. Gaetz stated he is open to serving in other capacities within the Republican administration if given the opportunity.

In a post on the social media platform X, Gaetz thanked the senators who supported his nomination but explained his decision to step aside and focus on his congressional duties.

“Yesterday, I had excellent meetings with senators. I appreciate their thoughtful feedback and the incredible support of so many. While the momentum was strong, it’s clear that my confirmation was unjustly becoming a distraction from the critical work of the Trump/Vance transition,” Gaetz wrote this morning.

“There is no time to waste on an unnecessarily prolonged fight in Washington, so I will withdraw my name from consideration to serve as Attorney General. The Trump Department of Justice must be ready and in place on day one,” he added.