Bulent Tufenkci                                                                           Image:

Bulent Tufenkci, Turkish Customs and Trade Minister, said on Tuesday in Istanbul that the failed coup of July 15 costs Turkey at least 99.9 billion dollars in damages.

He said the damages included destroyed buildings, military equipment, decline in orders from abroad for goods and a drop in tourism.

Tufenkci said it was unfortunate that the coup plotters had tried to create an impression that Turkey is a “third world country’’.

The minister said photos of tanks on the streets during the night of the putsch attempt were posted all over the city.

He, however, also noted resilience in the local economy, including the quick reopening of the stock exchange.

“The lira has also recovered some of its losses.

“During the peak of concern over the coup, the lira dropped from about 2.87 to the dollar to 3.09. It is now trading at just below 3 to the dollar,’’ he said.

Tufenkci noted that the Standard and Poors rating by agency downgraded Turkey after the coup attempt, citing concerns not only over the economy itself, but also over checks and balances.

The minister announced that Turkey is currently in the middle of a 90-day state of emergency.

Author: Cerebral Lemon