World Bank estimates Turkey earthquake damages at $34 billion

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World Bank estimates Turkey earthquake damages at $34 billion
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The devastating February 6 earthquake and aftershocks that hit southern Türkiye have caused damage worth more than $34 billion in the country, the World Bank said on Monday.

The cost of damage is equivalent to four percent of Turkey's GDP in 2021, the Washington-based institution said. FILE PHOTO

The amount is equivalent to four percent of Turkey's GDP in 2021, the Washington-based institution said, adding that the estimate does not account for the costs of reconstruction that were "potentially twice as large," a statement said. The World Bank warned that the continuing aftershocks are likely to increase the total amount of damage caused by the disaster.

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