Bloomberg learned the amount of damage to the Turkish economy from earthquakes

Earthquakes caused damage to the Turkish economy in the amount of $ 84 billion, Bloomberg reported on February 12, citing estimates from the Confederation of Entrepreneurs and representatives of the business circles of the republic.

“It is expected that two strong earthquakes <…> will lead to losses for the national economy in the amount of more than $ 84 billion, or about 10% of GDP, ”the statement says. publications.

According to the organization, damage to residential buildings amounted to $70.8 billion.

In addition, the consequences of the disaster will result in a decrease in the country’s budget revenues by $10.4 billion.

At the same time, the international rating agency Fitch earlier estimated the probable losses of Turkey from past earthquakes at $4 billion.

Earthquakes of magnitude 7.7 and 7.6 occurred on February 6 in the province of Kahramanmaras in southeastern Turkey near the border with Syria.

As of February 12, more than 29 thousand people died in Turkey, more than 1.4 thousand became victims of the elements in Syria. Published on February 12, 2023
Earthquakes caused damage to the Turkish economy in the amount of $ 84 billion, Bloomberg reported on February 12, citing estimates from the Confederation of Entrepreneurs and representatives of the business circles of the republic.

“It is expected that two strong earthquakes <…> will lead to losses for the national economy in the amount of more than $ 84 billion, or about 10% of GDP, ”the statement says. publications.

According to the organization, damage to residential buildings amounted to $70.8 billion.

In addition, the consequences of the disaster will result in a decrease in the country’s budget revenues by $10.4 billion.

At the same time, the international rating agency Fitch earlier estimated the probable losses of Turkey from past earthquakes at $4 billion.

Earthquakes of magnitude 7.7 and 7.6 occurred on February 6 in the province of Kahramanmaras in southeastern Turkey near the border with Syria.

As of February 12, more than 29 thousand people died in Turkey, more than 1.4 thousand became victims of the elements in Syria.
Orhan Tatar, director general of the Risk Mitigation Department of Turkey’s Emergency Management Department, admitted that the earthquake had the effect of detonating 500 atomic bombs.

According to the authorities, the earthquake was the strongest since 1939.