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The earthquakes in Turkey caused damage to the country's economy in the amount of 84 billion dollars, or about 10% of GDP.

This was reported by Bloomberg, referring to estimates by the Confederation of Entrepreneurs and Business Representatives in the Republic.

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The earthquake in Turkey and Syria 329

According to the calculations of the business group, the damage to residential buildings in Turkey is 70.8 billion dollars.

The consequences of the earthquakes will also lead to a decrease in budget revenues by 10.4 billion dollars, and labor losses will cost the Turkish economy 2.9 billion dollars.

The Bloomberg article notes that the confederation's estimates are higher than those of other economists.

Many experts also agree that it is too early to talk about the final consequences of the natural disaster.

On February 8, Turkish broadcaster NTV reported that the Turkish Stock Exchange had suspended trading until the evening of February 14 for the first time in 24 years to avoid a panic flight from Turkish stocks following the devastating earthquakes.

Compliance with building regulations in Turkey - again in the focus of attention

On February 6, Turkey was hit by several devastating earthquakes followed by 1,891 aftershocks, according to the Turkish government's Emergency Response and Prevention Agency (AFAD).

On February 12, Turkey's disaster management office reported that the death toll from the earthquake in the country had risen to 29,605.

The earthquake in Turkey and Syria

earthquake

financial damages