World Bank estimates February 6 earthquakes caused $34.2 bln in damage in Turkey

The two major earthquakes that hit Turkey on February 6 caused about $34.2 billion in direct physical damage, but total reconstruction and recovery costs facing the country could be twice as high, the World Bank said on Monday.

The bank estimates that the earthquakes would also shave at least half a percentage point off Turkey's forecast gross domestic product growth of 3.5% to 4% in 2023, Humberto Lopez, World Bank country director for Turkey, told reporters.

The situation in Syria, which was also affected by the quakes, was "really catastrophic," said Anna Bjerde, World Bank Group vice president for Europe and Central Asia. The bank will release a separate damage estimate for Syria on Tuesday.