The World Bank estimated the damage suffered by Syria as 5 million dollars as a result of the earthquake that occurred in the northwest of the country on the 6th of last February.
The contraction in Syria’s gross domestic product is expected to likely increase by 5.5 percent in 2023, according to an assessment by the World Bank on Saturday.
He pointed out that after the devastating earthquake, property damage was estimated at 3.7 million USD and losses were estimated at 1.5 million USD.
The need for improvement and rebuilding in Syria is estimated at $7.9 million over three years, according to the Central Bank.
The assessment showed that the losses represented reductions in production in productive sectors, reductions in revenues and increased operating costs in service provision.
The residential sector tops the list of and sectors with around 24 percent of total damages, followed by agriculture, transportation and the environment, particularly in terms of the cost associated with debris removal.
As for the agricultural sector, the bank said it was hit hard by the $1.3 million reduction in food supply (about 83 percent of total losses).
While the Aleppo Governorate was in the first place with 44 percent of the total damages, mainly in the housing sector and then in the agricultural sectors, it was followed by the Idlib Governorate with 21 percent.
