Turkiye is facing with Earthquake damages on Economy
The earthquake, which also stopped commercial activities in 10 provinces, has increased the speed of migration to other regions. Because of the disasters that have happened, Kariyer.net has launched an employment campaign under the name of ‘Earthquake Employment Mobilization’ for earthquake victims. In addition, other career platforms such as LinkedIn have also recognized priority for earthquake victims. It is at a very important point when migrating people start a new life that they find a job in their new cities. Expecting to overcome this problem with solidarity, Turkey expressed gratitude to the whole world for the assistance provided.
According to the data of the Turkish Statistical Institute, the share of the region consisting of 11 provinces affected by the earthquake in GDP is at the level of 9.8 percent, while the region has a population of about 14 million. The economy in the disaster zone is shaped both on agriculture and animal husbandry, as well as industrial production, especially textiles, iron and steel and energy. Before the earthquakes, President Erdogan predicted that inflation would be 20% by the end of the year. However, according to economists, the need for many goods and services after the debris created by the earthquake will make its impact negatively felt in inflation. According to Economist Murat Kubilay, even if there are no election tensions or currency crises, inflation will close the year at 50 percent at best.
What happened?
As everyone knows, Turkey experienced an earthquake disaster at 04.17 on the night of February 6. 9 Hours after the first earthquake, where there were high casualties, Turkey experienced a second earthquake before people could even understand what had happened. Two devastating earthquakes have almost shaken Turkey. demolitions took place in more than 10 provinces. According to the latest figures, the number of deaths is over 40 thousand, and unfortunately, it is expected that this is much more than that. Turkey iis trying to heal the wounds with the mobilization of the whole world and at the same time with the help of many non-governmental organizations in Turkey.
After the two major earthquakes, many aftershocks occurred. However on the night of February 20, that is, exactly 2 weeks after the first big earthquake, another high-intensity earthquake of magnitude 6.4 occurred in the center of Hatay. While people are trying to get used to this process in their tents or outside, the third major earthquake has increased concerns about fault lines in the region.
by Engin Zeynelabidin
Reference: https://t24.com.tr/haber/deprem-felaketi-ekonomiyi-nasil-etkileyecek,1093673
