International

In addition to human losses, the earthquakes in Turkey also bring heavy losses to the economy

In addition to the huge human losses, the two earthquakes bring great losses to Turkey and the economy - more than 84 billion dollars, or about 10% of the GDP, according to the estimates of a business group, quoted by Bloomberg.

Damage to Turkey's infrastructure, including roads and power grids, as well as hospitals and schools, could push the nation's budget deficit above 5.4 percent of GDP this year, against the official forecast of 3.5 percent, according to the report.

Initial calculations by Bloomberg Economics showed that disaster-related costs, including reconstruction efforts, could represent about 5.5 percent of GDP.

President Recep Tayyip Erdogan said his government would complete the housing within a year and that about $5.3 billion had initially been earmarked for disaster relief.

Ionela Golban

Ionela Golban

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