Turkey has taken measures to protect workers and businesses from the financial fallout of the two large earthquakes that hit southern Turkey earlier this month. The government has launched a temporary wage support scheme and banned layoffs in 10 cities. These steps are intended to minimize the economic impact of Turkey’s worst earthquake in modern history, which left tens of thousands dead.
Employees in Severely Damaged or Destroyed Workplaces Can Benefit from This Aid
In the wake of devastating earthquakes, employers among those whose workplaces have been “heavily or moderately damaged” are eligible to receive aid that partially covers wages for employees who had their hours reduced. Additionally, a 10-provinces-wide ban on layoffs is underway in areas where an emergency has been declared.
On February 7th, the Turkish Parliament declared a three-month state of emergency in response to President Tayyip Erdogan’s request. To cushion the economic hit by COVID-19, Turkey also provided salary assistance and imposed a layoff ban for 2020. Unfortunately, business groups and economists have estimated that this disaster could result in up to 100 billion USD worth of damage, consequently leading to a 1 – 2% decrease in the country’s annual growth rate.
The Turkey Earthquake Caused Quite a Panic
Residents of Turkey and Syria were left aghast as they encountered fresh trauma and challenges on Monday due to the 6.3 magnitude quake that rocked the same region affected by devastating earthquakes two weeks ago, leaving almost 45,000 dead and thousands of buildings destroyed. According to Turkey’s disaster management agency, six people lost their lives while about 300 sustained injuries – 18 severely injured. Shockingly enough, in Syria, a woman and an infant girl died from this event, according to pro-government media outlets; furthermore, reports are stating that some even jumped off structures trying to escape its wrath!
New Earthquakes May Happen in the Region
Fuat Oktay, Turkey’s Vice President, has declared that evaluations to gauge the destruction in Hatay were underway. He implored citizens to remain at a distance from destroyed structures and pay close consideration to rescue teams’ guidance. Furthermore, this succeeding earthquake also resurrected people’s terror of further disruption – living conditions have been harsh since February 6th due to frigid temperatures and minimal access to running water or suitable sanitation protocols, as reported by aid organizations.
Disaster models indicate that the area will be subjected to magnitude 5 quakes for at least a year, according to William “Bill” Barnhart, assistant coordinator of the US Geological Survey Earthquake Hazards Program. Consequently, further aftershocks are likely.
You may be interested in: Galois Capital Says It Has A Large Amount Of Money Left On FTX