the influence of last Massive earthquakes week on Economic Turkish growth It is unlikely that it will be as pronounced as after an earthquake hit Country in 1999, said Executive Director of the International Monetary Fund Mahmoud Mohieldin Sunday.
Husband of Earthquakes have severely devastated southeastern Turkey hit Northern Syria, leaving behind a trace of destruction across the region. thousands of buildings, incl homes Hospitals, flat in 10 provinces affected by the earthquakes last Monday.
The disaster caused great damage on Roads, pipelines and other infrastructure in the areawhere about 13.5 million people live.
Earthquakes will add Billions of dollar of spending on Ankara budget It is expected to reduce the economy growth by two points this yearofficials and economists said.
While officials say run of The destruction has not happened yet clearthey think will rebuild stretch Turkish budget. President Recep Tayyip Erdoğan said that there will be rapid reconstruction of Infrastructure and homes.
after the initial impact over the next few months , public And private sector investments in Rebuilding can boost gross domestic product (GDP) growth in The future, Mohieldin of the International Monetary Fund told reporters on Sidelines of Arab Public Finance Forum on Sunday.
Wolfango Piccoli echoed his remarks director of Consulting firm Teneo Intelligence, who last The week said the earthquake was unlikely to cause serious damage to economy compared to one of similar size in 1999, which hit the heart of Turkey’s northwest industrial region.
Addressing the same event, IMF Managing Director Kristalina Georgieva said the earthquakes “brought enormous tragedy on people but also Too big effect on Turkish economy. “
Turkey was adapting with High rates of inflation and consumption in Turkish lira. K resultthe government endorsed new economic model Aiming to eventually shift from chronic disability to a current account surplus.
He. She also It aims to bring down inflation, which has fallen to nearly 58%. in January until more Strong exports, production, investment and low interest rates. was inflation hit up to 85.5% in October 24-year high.
last yearthe state lowered its standard policy rate by five percent points to 9%, citing tags of economic slowdown. However, it has maintained steady rates last month I will hold him next interview on Feb 23.
Turkish is known for There is much less debt levels of most countries. However, the earthquake damage also it is expected that hit production in affected regionwhich is estimated to account for 9.3% of the country’s gross domestic product.
disorder can hit economic growth this year. Three economists calculate GDP growth could drop 0.6 to 2 percent points Under the scenario where the production in the region Drops 50%, which they said it would take six to 12 months to recover.
Separately, a senior official to Reuters last this week growth It could be 1 or 2 percent points below Targeted 5% saying that some of expected investment resources in the budget will need to be used for these areas.
Southeast region hit According to earthquake calculations for 8.5% of Turkey’s exports 6.7% of imports. But economists say the earthquakes are unlikely to affect Turkey’s earthquakes trade Balance where exports and imports are expected drop.
