Two years after the devastating earthquakes centered in Kahramanmaraş, Türkiye is demonstrating remarkable resilience and progress in its recovery efforts.

Despite the massive economic impact, with losses exceeding $100 billion, the nation's swift and comprehensive response is paving the way for a full restoration of economic stability and the rebuilding of affected communities.

The earthquakes inflicted significant damage across various sectors, with the manufacturing industry alone suffering ₺81.1 billion in losses. The disaster also impacted exports, contributing to a modest 1% growth in 2023. However, the Turkish government's decisive action, through substantial financial aid, incentives, and grants, has provided crucial support to businesses and industries.  

A testament to the government's commitment is the massive budget allocation for recovery.  Earthquake-related expenditures reached ₺960 billion in 2023, representing 3.2% of the budget deficit, and a further ₺1.03 trillion has been allocated for 2024.  The total recovery expenditure has reached ₺2.6 trillion by the end of 2023.  The Medium-Term Program outlines continued spending, targeting 2.5% of GDP in 2024, gradually decreasing to 0.8% by 2026.  This year's ₺584 billion allocation focuses on disaster risk reduction, infrastructure rebuilding, and victim support.  The 2025 Investment Program, with 5,061 new projects and a ₺511 billion budget, underscores the long-term vision for recovery.

Businesses have received substantial financial assistance.  Through Halkbank, small business owners received ₺6.7 billion in loans between February and November 2023, with favorable repayment terms.  Overall, ₺41.4 billion in loans has been disbursed to small businesses across 12 provinces.  The Post-Earthquake Micro, Small, and Medium Enterprises Revitalization Program has further provided ₺7.3 billion to 21,000 businesses in 2024.

Employment support has been a key priority.  İŞKUR’s Public Benefit Program provided jobs to over 77,000 people with a ₺15 billion budget.  The Short-Term Employment Allowance and Cash Wage Support Program benefited over 193,000 workers with ₺1.7 billion in payments, helping to prevent layoffs and maintain health insurance coverage.  As a result, the number of insured employees in the 11 affected provinces has rebounded to 1.93 million by November 2024.

Beyond direct financial aid, the government has facilitated ₺30.5 billion in Treasury-backed loans to businesses, with ₺18.3 billion already disbursed.  Infrastructure rebuilding has received ₺51.1 billion from the Ministry of Transport and Infrastructure.  The Turkish Catastrophe Insurance Pool (DASK) has paid over ₺39.7 billion in compensation.

Significant progress has been made in housing reconstruction.  As of now, 201,580 housing units and commercial properties have been delivered.  The ambitious goal is for every earthquake survivor to return to permanent housing or reopen their businesses by the end of 2025.  The government's commitment is evident in the over ₺2 trillion invested in recovery and the additional ₺584 billion allocated for 2025.  The innovative “Half from Us” Urban Transformation Project, offering grants and low-interest loans, empowers residents to actively participate in rebuilding their communities.  

Türkiye's comprehensive and multi-faceted approach to earthquake recovery, combining substantial financial investments, targeted support for businesses and employment, and a strong focus on housing and infrastructure, is a testament to its national resilience.  The nation is on track to not only rebuild but also to emerge stronger and more prepared for future challenges. (ILKHA)