Queensland government authorities have yet to provide the definite numbers but they hinted otherwise that the cost of the recent flooding disaster to state's economy would be enormous in its scale.

On Friday, Queensland Treasurer Andrew Fraser will issue his initial assessment of the damages caused by the disaster and how the whole incident would impact the state's mid-year economic prospects.

Fraser hinted that the exact figures on economic costs may not be released this week though he allowed that the Queensland economy is set to absorb a 'big hit' which naturally would influence the state budget as authorities grapple on the overwhelming tasks of putting back Queensland on pre-disaster conditions.

The cost estimate, according to Fraser, is being done in coordination with state and federal government agencies and the newly-created Queensland Reconstruction Authority to arrive at a more realistic assessment.

His Friday report will not carry the anticipated numbers but Fraser pointed to the June budget, which he said should give out a better perspective on the extent of the damages and the cost required to deal with them.

The response will mostly delve on reconstruction efforts on infrastructures devastated by the disaster, said Fraser, as he stressed that "we have to prioritise our response to this natural disaster above everything else."

The Queensland government has maintained that no taxes would be introduced nor existing taxes would be raised to finance recovery programs but instead Fraser asserted that "a new fiscal strategy will allow us to focus on the urgent task of rebuilding damaged infrastructure."

The treasurer said that in lieu of raising taxes and new levies, "we will have to make savings to help fund the recovery effort," pointing to the increasing possibility of steep budget cuts for Queensland in June.