Terrible earthquake has changed the image of Turkey, currently Turkey is going through economic crisis. The country’s currency, the lira, continues to weaken and the inflation rate is close to 57%… At the same time as rising inflation worries the public, the trouble has been compounded by the magnitude 7.7 earthquake that struck Turkey and Syria on Monday morning, killing more than 4,000 people so far. is According to the US Geological Survey, the deadly earthquake that shook parts of Turkey and Syria could cause losses of around 8.2 thousand crore rupees.
- The economy was hit by the earthquake
- Heavy damage with many buildings collapsing
- Delay in export of goods due to loss in production
- Power outages add to the problem
- Decrease in revenue and increase in public sector expenditure
According to the US Geological Survey, the damage from the deadly earthquake that shook parts of Turkey and Syria is estimated to be around Rs 8.2 thousand crore… A 6.7 magnitude earthquake in the same region in January 2020 caused around Rs. 4.9 thousand crores was lost.
- The economy was hit by the earthquake
- The inflation rate in Turkey in October 2022 was 85.5 percent
- October was a 24-year high
- Inflation fell to 57.7 percent in January
- A month ago in December, it was 64.3 percent
- The Turkish currency lira reached 18.83 against the dollar
- The currency depreciated by around 38% in a year
2018 also saw a crisis in Turkey. But then it was due to US sanctions. The current situation is completely different. Turkey’s situation could worsen in the coming days as central banks in other countries are raising interest rates to control inflation.
