Iraq crisis so far costs Turkey $8.5 billion
A report titled “The Iraq Crisis and Its Effects on Turkey’s Economy,” prepared by the main opposition Republican People's Party (CHP), emphasizes the growing risks of the Iraq crisis and its costs to Turkey. It notes that, with the increase in oil prices, Turkey’s energy bill will grow by $4.5 billion and exports to the region will diminish by $2.5 billion. Add to this the sharp decline in transport services and the adverse effects on projects of Turkish contractors in the region, the total bill will be around $8.5 billion.
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