Earthquake damage in Turkiye exceeds $105bn

The material damage from the catastrophic earthquakes of 2023 is two trillion Turkish liras (about $105 billion).

"The damage from earthquakes is 2 trillion liras. This shows that we have about six times more damage and losses than the 1999 Marmara Sea earthquake. This figure corresponds to 9 percent of the expected national income for 2023," the Turkish Finance and Treasury Ministry said in a statement.

Recall that the earthquake, which actually turned out to be a multi-day event due to multiple aftershocks comparable in intensity to the first tremors, killed more than 49,000 people.