World Bank says Syria quakes caused $5.2 billion in damage, 5.5% GDP contraction for 2023

  • World
  • Tuesday, 21 Mar 2023

FILE PHOTO: Salam Mahmoud, a volunteer at the Syria Civil Defence (White Helmets), walks with other volunteers on the rubble of a building, that was damaged by last month's devastating earthquake, in rebel-held al-Maland village, in Idlib province, Syria March 5, 2023. REUTERS/Khalil Ashawi

WASHINGTON (Reuters) - The World Bank on Monday said February earthquakes are expected to have caused Syria's real GDP output to contract by 5.5% in 2023, with recovery and reconstruction needs estimated at $7.9 billion over three years.

The World Bank said its Rapid Damage and Needs Assessment report estimates the earthquakes that hit northern and western Syria on Feb. 6 and Feb. 20 caused physical damage of $3.7 billion in the country, with another $1.5 billion in economic losses for a combined damage impact of $5.2 billion.

(Reporting by David Lawder; Editing by Chris Reese)

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In World

Eruption of Indonesia's Mt Ibu forces seven villages to evacuate
Saudi crown prince meets White House national security adviser
Irish business tycoon and rugby record breaker Tony O'Reilly dies at 88
Greece marks Int'l Museum Day with free admission, variety of activities
South Africa's new MK party seeks majority win in pivotal election, Zuma says
Iranian official hails "extensive" cultural cooperation with China
Venezuela opposition candidate says he will guarantee political freedom
Britain's Conservatives trail Labour by 18 points, says Opinium poll
Italian police seize 134 Fiat cars in flag dispute
Chinese proficiency competition held in Lebanese capital Beirut

Others Also Read