The Limited Times

Now you can see non-English news...

Earthquakes in Turkey: material damage estimated at more than 34.2 billion dollars

2023-02-27T15:21:42.180Z


According to the World Bank, the reconstruction will be “much higher, even twice as high.” No respite for Turkey which suffered on Monday a new aftershock of the earthquakes which occurred on February 6 which killed 44,374 people, and more than 50,000 including the victims in Syria. With a magnitude of 5.6, the earthquake caused the collapse of 22 buildings in the province of Malatya, located in the south-east of the country. According to the public disaster management agency (AFAD), at


No respite for Turkey which suffered on Monday a new aftershock of the earthquakes which occurred on February 6 which killed 44,374 people, and more than 50,000 including the victims in Syria.

With a magnitude of 5.6, the earthquake caused the collapse of 22 buildings in the province of Malatya, located in the south-east of the country.

According to the public disaster management agency (AFAD), at least one resident died and 20 others were injured.

Since the beginning of the month, nearly 10,000 aftershocks have taken place in this region, one of the most subject to seismic activity in the world.

The World Bank published on Monday the financial estimates of the material damage caused by the first earthquakes which it estimates at more than 34.2 billion dollars.

This glimpse of the economic consequences, although temporary, already represents 4% of Turkey's GDP in 2021.

Read alsoEarthquake in Turkey: the ordeal of Kahramanmaras today populated by dead and homeless

Other aftershocks will probably increase this estimate even further

,” writes the World Bank, which describes the successive earthquakes as “

the biggest disaster of this type suffered by the country for more than 80 years

”.

The cost of recovery and reconstruction will be much more expensive, “

even twice as much.

»

Considerable damage

The greatest damage was observed in 11 provinces in southern Turkey, a region with some of the highest poverty rates in the country as it hosts more than 1.7 million Syrian refugees, or half of this refugee population. , since 2011, in the country.

Direct damage to residential buildings represents 53% of the total destruction ($18 billion);

28% ($9.7 billion) relates to non-residential buildings, such as hospitals or schools, and 19% ($6.4 billion) relates to infrastructure.

Read alsoEarthquake in Turkey: Erdogan asks “pardon” for delays in relief

These natural disasters will amputate the Turkish GDP of at least half a point of growth, forecast between 3.5% and 4% this year, according to Humberto Lopez, director of the World Bank for Turkey.

Another separate report analyzing the consequences for Syria is due out on Tuesday.

The country, disfigured by 12 years of conflict, should unsurprisingly suffer very severely.

The magnitude of the impact on Syria is going to be truly catastrophic

,” warned Anna Bjerde, World Bank Group Vice President for Europe and Central Asia.

Source: lefigaro

All business articles on 2023-02-27

You may like

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.