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The Sunday Review
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It is absolutely devastating earthquake Turkey’s February 6 earthquake left at least 45,000 dead and millions without homes in nearly a dozen countries. caused immediate damage estimated at $34 billion – or roughly 4% of the country’s annual economic output, according to the World Bank
However the Indirect cost This is the quake could Recovery will not be quick or easy if the cost is much higher.
Estimates of the Turkish Enterprise and Business Confederation the total cost of the quake at $84.1 billion, the lion’s share of which would be for housing, at $70.8 billionWith lost national income at $10.4 billion Lost working days up to $2.91 billion.
“I do not recall… any economic disaster at this level in the history of the Republic of Turkey,” Arda Tunca is an Istanbul-based economist with PolitikYol.
Turkey’s economy had been slowing even before the earthquake. By implementing unconventional monetary policy the Government caused Soaring inflation leads to increased income inequality, and creates a currency crisis. the Lira has lost 30% of its value in comparison to the Dollar in the last year. Turkey’s economy grew 5.6% last year, Reuters reported, citing official data.
According to economists, these structural weaknesses are a major problem. in the The economy will only worsen because of it the Quake could determine the Course of the presidential and legislative elections anticipated in mid-May.
Tunca still believes that although the You can sustain physical injury from the A quake is huge. the cost To the country’s GDP won’t be as pronounced when compared to the 1999 earthquake in Izmit was the one who hit the country’s industrial heartland and killed more than 17,000. According to the OECD, the Beacon areas affected in This quake is to be credited for a third of the country’s GDP.
Provinces worst affected the February 6 quake represent some 15% of Turkey’s population. According to the They contribute 9 percent to the Turkish Enterprise and Business Confederation. the nation’s GDP, 11% of income tax and 14% of income from agriculture and fisheries.
“Economic growth would slow down at first but I don’t expect a recessionary threat due to the earthquake,” Selva Demiralp is a Koc University professor of Economics. in Istanbul. “I don’t expect the impact on (economic) growth to be more than 1 to 2 (percentage) points.”
There have been increasing criticisms of the country’s preparedness for the Policies to reduce the effects of quakes can help you avoid a quake the Economic impact or prevention the Scale of the See the damage in the disaster.
We don’t know yet how Turkey will restore its economy and care for those who are homeless. It is possible. could prove pivotal in determining President Recep Tayyip Erdogan’s political fate, analysts and economists say, as he seeks another term in office.
The government’s 2023 budget, released before the earthquakeHad planned for higher spending in This article is available in English election An estimated deficit of 660 is expected for the year billion liras ($34.9 billion).
Analysts said that some of the measures announced by the government were intended to stabilize financial markets. Erdogan’s popularity, including a near 55% increase in the Minimum wage, earlier retirement and lower housing loan rates
Economists say that Turkey’s fiscal position is strong. When compared with its economic output, Turkey’s deficit in the budget is lower than other emerging markets such as India, China, and Brazil. It is a great country. the There is still money for the government to spend.
“Turkey starts from a position of relative fiscal strength,” Selva Bahar Bziki from Bloomberg Economics. “The necessary quake spending will likely result in the government breaching their budget targets. Given the high humanitarian toll, this would be the year to do it.”
Public spending related to Quake is 2.6% of the GDP in the She said that she was only able to do a short-term, according to The Sunday Review. could It could eventually rise to 5.5%
Budget shortfalls are usually filled by government borrowing or tax increases. Economists believe both options are feasible. However, post-quake taxes are already sensitive topics in the Country, could prove risky in This article is available in English election year.
After the 1999 earthquake. Turkey created an “earthquake tax” It was first introduced temporarily to offset economic damages, but later became a permanent tax.
Concern has been expressed in the This country the The state could have misappropriated those tax revenues. Opposition leaders are calling for an investigation. the Transparency by government about what has happened the money raised. If asked in 2020, Erdogan the Geld “was not spent out of its purpose.” Seit damals the There is little information from the government about how to do it. the Money was spent.
“The funds created for earthquake preparedness have been used for projects such as road constructions, infrastructure build-ups, etc. other than earthquake preparedness,” Tunca. “In other words, no buffers or cushions have been set in place to limit the economic impacts of such disasters.”
The Turkish presidency didn’t respond to The Sunday Review’s request for comment.
Analysts say it’s too early to tell precisely what impact the Economic fallout could have a devastating impact on the economy Erdogan’s prospects for re-election.
The president’s approval rating was low even before the quake. MetroPOLL conducted a poll in December. 52.1% of respondents didn’t approve of his handling of his job as president. An earlier survey found that only a small majority of voters supported his handling of the presidency. would not vote for Erdogan If you have any questions, please contact us. election They were also held that day.
Two polls were conducted last week and showed that they had been retaken. the Turkish opposition had not picked up fresh supportReuters reported that Reuters had found evidence of the failure to nominate a candidate, and its inability to create a concrete plan for rebuilding areas damaged by the earthquakes. the quake.
Most of the Provinces most affected the Voted for quake Erdogan His ruling AK Party in the 2018. 2018 Elections, in Some of the provinces in these areas are Erdogan the AK Party received a plurality or a small majority of the votes.
These are just a few of the provinces. the poorest in the country, the The World Bank.
Demiralp and academics Evren balta, Ozyegin University, and Seda Demiralp, from Isik University conducted research that found that although the ruling AK Party’s voters’ high partisanship is a strong hindrance to voter defection, economic and democratic failures could Tip the balance.
“Our data shows that respondents who report being able to make ends meet are more likely to vote for the incumbent AKP again,” the The research concluded. “However, once worsening economic fundamentals push more people below the poverty line, the possibility of defection increases.”
These are the best could Allow opposition parties to vote the incumbent rulers “despite identity-based cleavages if they target economically and democratically dissatisfied voters via clear messages.”
Tunca the Economic fallout the A quake is a serious risk Erdogan’s prospects.
“The magnitude of Turkey’s social earthquake is much greater than that of the tectonic one,” He said. “There is a tug of war between the government and the opposition, and it seems that the winner is going to be unknown until the very end of the elections.”
This report was contributed by Nadeen Ebrahim, Isil Sariyuce.
Correction: This article now states that the Research, the A survey was carried out by the academics.
Sub-Saharan African nations repatriate Tunisian citizens after ‘shocking’ statements from country’s president
Sub-Saharan African Countries, including Ivory Coast and Mali as well as Guinea, Gabon, Guinea, Gabon, Mali, Guinea, Gabon and Guinea, include helping their citizens return from Tunisia Following a controversial statement by Kais Saied (Tunisian President), who led an effort to crack down on illegal immigration, the Since last month, North African country
- Background: In a meeting with Tunisia’s National Security Council on February 21, Saied described illegal border crossing from sub-Saharan Africa into Tunisia as a “criminal enterprise hatched at the beginning of this century to change the demographic composition of Tunisia.” He stated: the Tunisia’s immigration policy aims at transforming it into a country. “only an African country with no belonging to the Arab and Muslim worlds.” Saied stated that there was no racial discrimination in a speech he gave on February 23rd. in Tunisia, and stated that Africans are residing in Tunisia legal migrants are welcomed. Police arrested 58 African migrants Friday, after they were alleged to have crossed into Tunisia. the TAP, the state news agency reported that illegal border crossings were occurring on Saturday.
- It is importantSaied is the one who took power in He was referred to as a coup in 2021 by his enemies, and is now facing serious challenges at home. Reuters reported Sunday that rights organizations and opposition figures had stated that the president’s crackdown on migrants was meant to distract from Tunisia’s economic crisis.
Iranian Supreme Leader says schoolgirls’ poisoning is an ‘unforgivable crime’
Ayatollah Ali Khanei, the Supreme Leader of Iran, stated Monday that the Poisoning schoolgirls in The Iranian economy has been booming in recent months. “unforgivable crime,” The state-run news agency IRNA published the report. Khamenei called on authorities to continue the Issue, saying “if it is proven that the students were poisoned, the perpetrators of this crime should be severely punished.”
- BackgroundThe growing concern in Iran: Reports have emerged that hundreds upon hundreds of Iranian schoolgirls were poisoned. the Country over the the last several months. On Wednesday, Iran’s semi-official Mehr News reported that Shahriar Heydari, a member of parliament, said that “nearly 900 students” All across the Country had been poisoned up to now, citing unnamed. “reliable source.”
- What is the point? There has been a lot of international and local outcry over the reports. Although it’s not known if there are any repercussions, the The incidents are linked. the students were targeted, some believe them to be deliberate attempts at shutting down girls’ schools, and even potentially linked to recent protests that spread under the slogan, “Women, Life, Freedom.”
Iran to allow further IAEA access following discussions – IAEA chief
Iran will grant more access and monitor capabilities. the International Atomic Energy Agency, Director General Rafael Grossi stated this at a press conference in After a visit to Vienna, Vienna will be open for business on Saturday. the Islamic Republic. Additional monitoring will be initiated “very, very soon,” Grossi said that an IAEA team arrived within days to start reinstalling the system. the Equipment at multiple sites
- BackgroundBefore the Conference the IAEA released a joint statement with Iran’s atomic energy agency in This the Two bodies have agreed to allow interaction between each other “carried out in the spirit of collaboration.” Iranian President Ebrahim Rashi said that he hopes to be able to fulfill his promise. the IAEA will remain neutral and fair to Iran’s nuclear energy program and refrain from being affected “by certain powers which are pursuing their own specific goals,” Reports from Iran’s state TV Press TV Saturday
- What is the point? This week: restricted IAEA report The Sunday Review reports that near-bomb-grade levels of uranium have been detected at an Iranian nuclear facility. the US warned that Tehran’s ability to build a nuclear bomb was accelerating. President of the Atomic Energy Organization of Iran, Mohammad Eslami was rejected the Recently, IAEA reported that particles of uranium were detected at 83.7% in a recent report the Fordow nuclear plant in Iran claims that there have been ‘“no deviation” in Iran’s peaceful nuclear activities.
The discovery of a new statue for the sphinx has led to its creation in Egypt – but this one is thought to be Roman.
Smiley sculpture the Excavations led to the discovery of remains belonging to a shrine. in Qena, an Egyptian southern city. the Banks of the eastern coast the River Nile
It was built in the shape of a shrine. in It was made of limestone and had a 2-level platform. Mamdouh Eldamaty – a former minister and professor of Egyptology from Ain Shams University – said that in A statement Monday Egypt’s ministry of tourism and antiquities. There was a ladder, and a mudbrick water basin.
This basin is thought to have been formed in the early 1900s. the Byzantine era, housed the A smiling statue of a sphinx, made from limestone
Eldamaty: the statue as bearing “royal facial features.” It Had a “soft smile” Two dimples. It Also, the nemes was worn on its head. the Traditional striped headdress made of cloth and worn by the pharaohs in ancient Egypt. It has a cobra-shaped ends. “uraeus.”
Roman stela containing hieroglyphic and desotic writings. the Romans were found in the below the sphinx.
Professor said: the Statues may be a representation of the Roman Emperor Claudius, the Fourth Roman Emperor who ruled starting the Year 41-54, however more research is needed to confirm. the structure’s owner and history.
It was made. in the Eastern side of Dendera Temple in Qena is where the excavations continue.
Recurring creatures are the sphinxes in the Mythologies from ancient Egyptian, Persian, and Greek cultures. They are frequently found in close proximity to tombs and religious structures.
It It isn’t uncommon to find new statues of sphinxes in Egypt. But the country’s most famous sphinx, the The Great Sphinx at Giza dates back to approximately 2,500 BC. the Ancient Egyptian Pharoah Khafre
Nadeen Ebrahim
