HOUSTON, USA. –Tropical storm Harvey, formerly a category-four hurricane of a maximum of five on the Saffir-Simpson scale, can become the most expensive natural phenomenon in American history, AccuWeather Weather Company estimated this Wednesday.

According to a statement by the body, the material damage of the meteor, which caused catastrophic floods in Texas and Louisiana, will approach $160 billion.

The text added that amount is similar to the combined effect of Hurricane Katrina, in 2005, and Sandy, in 2012.

Joel Myers, founder and president of AccuWeather, believes Harvey will be the worst natural disaster for the United States, and when total destruction is complete will be 0.8 percent of the gross domestic product of the nation.