Slow rate vaccination of the population will cost the global economy with serious losses, predicts The Economist.
The Economist Intelligence Unit (EIU) study showed that those countries that do not vaccinate 60 percent of their population by mid-2022, part of the gross domestic product (GDP) by 2.3 trillion dollars in 2022-2025. About two thirds of this amount will have to develop countries, which will further detain their post-crisis recovery.
The biggest blow when evaluating the share of GDP is waiting for the sub-Saharan Africa countries – a total of three percent of the predicted level in 2022-2025. In absolute terms, Asia will pay most of all over the low rate of vaccination – it is predicted that the region will lose 1.7 trillion dollars.
In the study, it is noted that the vaccination campaign in the world is advanced unevenly. In countries with a higher income level, at least one dose of vaccine by August received about 60 percent of the population. In poor countries, coverage was only one percent. Delegation with the implementation of the Program leads to dissatisfaction of people, increasing the risk of social exclutions in countries that are slowing slower.
Additional problem is associated with the spread of the “Delta” -Stamma coronavirus, due to which vaccination may not solve the problem as effectively as government hoped. Political leaders need to rethink the strategy to limit the spread of coronavirus to adapt it to the long-term perspective, researchers indicated.
New strain and slow vaccine rates have already hit Asia economies. The profit of the region’s companies in September is likely to fall for the first time in six quarters, wrote Reuters. The productivity of the factory in the south-east of the region in July decreased faster since June 2020.