Monday's torrential rains will have cost the economy several million liri in terms of damage and lost business.

The heavy rainfall, 90.7mm in the 24 hours up to noon on Monday, most of it falling during the storm, destroyed cars and walls, and ground business to a halt as employees were forced to take an unexpected prolonged weekend.

It was too early yesterday to assess the scale of the damage, but officials who were contacted said the storm will have hurt the economy.

The Resources and Infrastructure Ministry yesterday coordinated a team of architects who scoured the island to inspect the damage caused.

The biggest blow is expected to be faced by Malta Drydocks after one of its sub-stations, costing in the region of Lm1 million, was crushed when a huge boulder broke off and crashed onto it (picture).

MDD chief executive Peter Moore said it was too early to estimate the exact cost but he would not be surprised if the bill ran into seven figures.

"It's completely destroyed. We have to replace all the switchgear and the electrics," Mr Moore said.

He added that the management was looking for temporary arrangements, since the damage had wiped out certain services to Dock No. 6, such as the electricity supply.

In the meantime, horse race lovers are still reeling in disbelief at the damage to the Marsa horse racing track, which will cost between Lm100,000 and Lm200,000 to make good.

It is likely the track will be unusable for months.

At Air Malta spokesman John Saliba said the airline would foot a bill running into "tens of thousands" of liri because of Monday's rains.

A total of 11 Air Malta flights were delayed, with two flights from Sicily forced to turn back because of poor visibility, and some others facing delays of up to four hours until the weather cleared up.

Mr Saliba said the airline would still have to evaluate the costs of those passengers who missed their flights because of the traffic-choked streets, and who were then flown to their destination via another airport.

Civil Protection Department director Peter Cordina estimated that coping with the aftermath of the flood would cost his department Lm8,000.

All 80 CPD workers were called in to work overtime on Monday and a number of the department's vehicles were damaged as they rescued 60 people from vehicles being carried by the waters.

Mr Cordina said the biggest infrastructual cost of Monday's rain was expected to be incurred by Qormi.

An infuriated Roderick Galdes, mayor of Qormi, said the overall cost in his town could spiral to Lm1 million.

Roads, one of which cost Lm45,000, had collapsed; bridges were brought down and several cars washed away during the six- hour storm.

Mr Galdes said a number of Qormi families claimed they had incurred damages of up to Lm5,000 to their property.

Plumbers, window makers and plasterers contacted yesterday said they had been inundated with phone-calls from desperate people whose property suffered the brunt of the storm.

Vince Farrugia, director general of the GRTU, Association of General Retailers and Traders, said business on Monday was dead, since most operators were too busy dealing with their own problems at home.

In fact, Mr Farrugia went so far as to describe Monday as the biggest sabbatical for shop-owners on a normal working day since the VAT strike.

In addition, a number of GRTU members reported damage to their shops with a number of underground stores flooded.

Bank employees were among those urged to stay at home until the weather conditions improved.

A spokesman for one of the banks said that business was at a virtual standstill for the first three to four hours on Monday.

The Bank of Valletta branch at St Paul's Bay was extensively flooded, both in the customer and back office areas, forcing its closure yesterday.

Malta Hotels and Restaurants and Association president Winston Zahra said a number of hotel operators reported damage to their properties, mainly in terms of leakages into the rooms, though there was no major damage.

Mr Zahra reiterated the association's appeal to the authorities to rectify the situation as quickly as possible, since the tourist season was still at its peak.