Earthquake impact on Turkey's GDP unlikely to be as much as in 1999

The impact of last week's earthquake on Turkey's growth domestic product (GDP) is unlikely to be as pronounced as after the earthquake that hit the country in 1999.

IMF Executive Director Mahmoud Mohieldin came up with the statement on the sidelines of the Arab Fiscal Forum on Sunday, reports Reuters.

Mohieldin added that, after the initial impact over the next few months, public and private sector investments in rebuilding could boost GDP growth going forward.