Turkey Earthquake Could Result in Loss of up to 1 Percent of Country’s GDP in 2023

A man rides his bike along a collapsed Roman Catholic church in the aftermath of the deadly earthquake in Iskenderun, a coastal town of Hatay Province, Turkey, on Feb. 14, 2023. Umit Bektas/Reuters

LONDON—The potential economic effects of the earthquake in Turkey could result in a loss of up to 1 percent of the country’s gross domestic product this year, the European Bank for Reconstruction and Development (EBRD) said in a report published on Thursday.

The bank added this is a “reasonable estimate” due to the expected boost from reconstruction efforts later this year, which will offset the negative impact to infrastructure and supply chains.