Turkey earthquake could result in loss of up to 1% of country's GDP in 2023

The bank added that growing external financing requirements and political uncertainty associated with elections in 2023 create significant economic vulnerabilities. Turkey's earthquake has thrown into disarray plans for elections to be held by June, sparking frantic debate within President Tayyip Erdogan's government and the opposition over a possible delay. The bank added that growing external financing requirements and political uncertainty associated with elections in 2023 create significant economic vulnerabilities. Turkey's earthquake has thrown into disarray plans for elections to be held by June, sparking frantic debate within President Tayyip Erdogan's government and the opposition over a possible delay. Turkey's lira hit a fresh record low on Wednesday.