Turkey's faltering economy is a challenge for Erdogan.

On February 19, 2023, Turkey was hit by the deadliest earthquake in a century, which killed over 40,000 people in Turkey and thousands more in neighboring Syria. The earthquake has left millions homeless and will cost the government a staggering reconstruction bill, which is expected to cost $10 billion to $50 billion, although the Turkish Enterprise and Business Confederation has put the total closer to $85 billion. Over 8,000 buildings were flattened and supply chain infrastructure, including roads and the Iskenderun seaport, were damaged when the quake rocked southern Turkey. The area, a manufacturing and maritime transport hub that was also home to thousands of war-hit Syrian refugees, accounts for 9 percent of Turkey’s economic activity. The disaster is a fresh challenge for President Recep Tayyip Erdogan as he seeks a third four-year term and faces re-election in May. The earthquake is also a blow to Turkey’s economy, which was already in urgent need of repair, with a collapsing currency, runaway inflation, and cost-of-living crisis. The earthquake has added to the economic woes that have been plaguing Turkey for some time. The vulnerabilities of the country's economy have punched holes in the nation's balance sheet, tipping Turkish families and businesses into a cost-of-living crisis. Before the earthquake, the country was already reeling from a collapsing currency and runaway inflation that had reached an annual rate of 85 percent in October. Turkey's President, Recep Tayyip Erdogan, has been pursuing unorthodox financial policies to help bolster the country's finances, but these policies have also been a cause of concern. Erdogan has been strengthening ties with Russia and the Gulf States, which has raised eyebrows among traditional Western allies. The Secretary of State, Antony J. Blinken, visited southern Turkey on February 20, 2023, to distribute relief supplies to quake-stricken areas. From there, he flew in a Blackhawk helicopter around the city of Antakya and saw dozens of damaged and destroyed buildings. Noting that relief efforts were moving from rescue and recovery to humanitarian aid, Blinken announced $100 million in new U.S. assistance for people affected by the earthquake. This brings the total U.S. aid to $185 million. The recovery operation is going to be massive, and it will take considerable effort to rebuild. However, the international community is committed to supporting the effort to rebuild and help the people affected by the earthquake.