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

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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.

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