The Hurricane Otis damage in Acapulco in the Pacific Coast of Mexico could number in the billions, with nearly a hundred people possibly dead from the Category 5 hurricane's devastation of Guerrero State.

On Wednesday, the Mexican government revealed a $3.4 billion recovery plan for Acapulco. This includes not just humanitarian aid and reconstruction of infrastructure but also tax breaks for the city. The Mexican government also revealed that more could be spent if necessary for the resort city to recover.

Hurricane Otis was initially predicted to slam into Acapulco as a mere tropical storm. However, it strengthened rapidly in just 12 hours, growing into a monster Category 5 hurricane. As it made landfall, the storm sank boats, tore the roofs off of buildings, flooded streets, tore down trees, and more. It also knocked out the power for most of the city, with many still left without electricity.

Mexico Finance Minister Rogelio Ramirez de la O noted that the estimated investment needed for Acapulco was around 61.3 billion pesos ($3.4 billion). However, the government will receive between $30 million and $60 million from a catastrophe bond that insures the country against earthquakes and hurricanes, though this might not be enough. The country does have an extra 5 billion pesos in insurance that can be used for reconstruction, per Reuters.

President Andres Manuel Lopez Obrador has previously stated that the government would raise more money for Acapulco if needed.

"Fortunately, we have healthy public finances and unlimited resources when it comes to benefiting the people," AMLO said.

READ MORE: Mexico: Hurricane Otis Death Toll Rises to 48

Hurricane Otis Casualties May Be Almost 100

After Hurricane Otis devastated Acapulco, looting broke out as desperate people tried to get their hands on food and water. However, as the living are still struggling, the storm also cost people their lives. So far, 48 people are confirmed dead with 47 still missing. While relatives are still holding out hope, it is highly likely that the death toll could reach almost 100.

Of those 48 confirmed deaths, 45 are from Acapulco and three come from Coyuca de Benítez. According to The Guardian, three foreign residents have also died, and they are from the US, Canada, and the UK respectively.

People have limited access to food and water in the city, with many still not being given relief goods as they struggle to survive. ATMs have been hit, while long lines to get water are found throughout the devastated areas.

Aid Slowly Arriving as Residents Grow Frustrated After Hurricane Otis Devastated Mexico

Search and recovery efforts are still ongoing not just in Acapulco but in other areas around Guerrero State, as 47 are still missing around the city best known for its stunning beach resorts.

Meanwhile, as this is happening, locals are growing frustrated as the arrival of aid has been slow, leading to the looting that the government has been trying to stop.

"We don't have water, we are left with nothing, the house is full of mud, everything is damaged," said one resident, according to the BBC.

As for electricity, the majority, around two-thirds, has been restored, though many are still without power.

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This article is owned by Latin Post.

Written by: Rick Martin

WATCH: Hurricane Otis: before and after footage shows scale of destruction in Mexico's Acapulco - Guardian News