Two major earthquakes in Kahramanmaraş caused great destruction in 10 provinces and caused the death of more than 40 thousand citizens according to official figures. While the plans for the rebuilding of the cities had begun, the economic impact of this destruction was also a subject of discussion.
Opinions by Reuters from a government official and four economists painted an alarming picture. Reuters stated that the earthquake will force inflation to stay above 40% and it will have an impact of 50 billion dollars on the economy.
House, food and service prices will not fall much in the coming months:
The fact that inflation will remain at high levels means that the cost of living will not fall at the level of expectations in the coming months. Because inflation, which is expected to decrease to 35-40% until June before the earthquake, will be 42-46% according to the new estimates.
“It’s not easy to finish the year with today’s budget”
The government official, who did not want to be named, told Reuters, “It does not seem easy to complete the year with the current budget. Additional budget will be needed.” made the statement.
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