February 18, 2023
Hakan Akbas on Al Jazeera discussing economic impacts of earthquakes in Turkey
Senior Advisor Hakan Akbas spoke with Al Jazeera to discuss how recent earthquakes are affecting Turkey's economy, addressing the impacts of the disaster on the country's GDP, agricultural output, housing market, and more:.
According to early estimates, right now we are looking at $84 billion of economic costs...One-third of Turkey's steel manufacturing and exporting facilities had been built in this region [and] they lost employees, [meaning] they will stay closed probably until the end of March...This region contributes to about 15 percent of Turkey's agricultural output, it will be impacted...Textiles and logistics infrastructure is also very impacted.
Watch the full interview here.