Fitch estimates Turkey’s potential losses related to earthquake at $4 bln

Fitch estimates Turkey’s potential economic losses related to the ruinous earthquake at $4 bln, the international rating agency said in a statement on Thursday.

"Economic losses are hard to estimate as the situation is evolving, but they appear likely to exceed $2 billion and could reach $4 billion or more," the rating agency said.

A powerful 7.7-magnitude earthquake rocked Turkey’s Kahramanmaras province, located in the country’s southeast, on February 6. The tremors, followed by hundreds of aftershocks, were felt in ten provinces, as well as in neighboring countries, including Syria. The latest reports say that 14,351 people have lost their lives in Turkey and more than 62,000 have been injured.