Economic damage from the terrible earthquake of the century could exceed $84 billion

According to Bloomberg, based on estimates by the Confederation of Entrepreneurs and Businesses of the Republic, the damage from the earthquake in Turkey is estimated at more than $84 billion.

The confederation estimates that the consequences of the two major earthquakes will cost the national economy more than $84 billion, or about ten percent of gross domestic product. Of that, $70.8 billion was damage to homes.

In addition, it is estimated that national budget revenues will decrease by $10.4 billion and labour losses will decrease by $2.9 billion.