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Direct costs of Turkey quake damage estimated at $25 billion

Posted On: Feb. 17, 2023 9:44 AM CST


Financial services company JPMorgan Chase & Co. said that the direct costs stemming from the destruction of physical structures in Turkey due to the massive earthquakes that struck earlier this month could reach 2.5% of the gross domestic product, or $25 billion, Reuters reported. The deadly quakes have claimed lives of over 40,000 people and caused severe and widespread destruction.