The EU could lose nearly $ 110 billion due to slow progress of COVID-19 vaccination


The EU could lose nearly $ 110 billion due to slow progress of COVID-19 vaccination

According to the study, the EU will need to accelerate the current immunization schedule by six times to reach its target of 70% adult immunity this summer.

According to a study conducted and published by Alliaz insurance group and credit insurer Euler Hermes, the European Union (EU) is at risk of economic loss of 90 billion euros (108.19 billion USD) during the year. now if this block does not keep up with the progress of vaccination for acute respiratory infections COVID-19 in other areas.

The governments of the EU member states are currently facing criticism for the slow progress in the immunization program, while vaccination work in the UK, Israel and the US is progressing.

According to the study, the EU will need to accelerate the current immunization schedule by six times to reach its target of 70% adult immunity this summer. With the current vaccination progress, the goal of public immunity will not be achieved before 2022.

The longer the immunization program lasts, the longer the bloc’s economy suffers due to the restrictions and blockade measures imposed to prevent the spread of the disease.

The study stated: “1 euro invested in boosting vaccination (through infrastructure, increasing vaccine production) can avoid a loss of 4 times higher”.

Earlier, on February 2, President of the European Commission (EC), Ms. Ursula von der Leyen, said the EU lagged behind other countries 3-4 weeks in vaccination progress due to the vaccine approval process. COVID-19 of the block is more complex. She said vaccine supply problems will decline in the second quarter, but increasing vaccine production remains a challenge.

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