Queensland’s economy is in the middle of a slump, which has been exacerbated by recent natural disasters, according to the latest Deloitte Access Economics report on the state of Australia’s finances.

The state government has already announced $1.3 billion of economic damage caused by the summer of droughts and floods, however the independent Deloitte report released on Monday estimates the figure will be closer to $6 billion.

Queensland Deputy Premier and Treasurer Jackie Trad insisted Deloitte was basing that figure on multiple metrics over different timeframes.

Queensland Deputy Premier Jackie Trad says Queensland has already accounted for the hit from natural disasters to the budget bottom line. Credit:AAP

“The $6 billion figure takes into account a range of factors, it takes into account long-term community recovery efforts ... so the Deloitte report takes a much broader perspective,” Ms Trad said on Sunday.