Sabtu 03 Apr 2021 11:09 WIB

Three Game-Changers Against Indonesia's Economic Contraction

Cooperation program will help accelerate Indonesia's vaccination program and economic

Social protection programs are provided to the poorest 40 percent of the population and vulnerable groups. (Capture: Ilustrations Rupiah and Dollar AS)

Foto:

The World Bank's Review

The World Bank's Latest Economic Report states that vaccination is one of the important efforts to carry out economic recovery in East Asia and the Pacific region, including Indonesia. World Bank Chief Economist for East Asia and the Pacific, Aaditya Mattoo said vaccinations and significant policy reforms could boost economic activity and prevent further losses from covid-19.

"In countries where covid-19 control has not been achieved, such as Indonesia and the Philippines, vaccination is fast becoming a priority," said the World Bank's April 2021 edition of the report entitled "Uneven Recovery", Friday (26/3).

However, vaccination is considered unable to end the pandemic quickly. There is another urgent problem, namely the distribution of vaccines.

Vaccine distribution is still a risk in a the number of countries, even delaying the vaccine can reduce economically growth. On the negative side, delays in vaccine distribution can result in protracted infections and imposed restrictions on community activities, reducing growth by about one percent.

The slow pace of the global response to the coronavirus can also increase the risk of new variants emerging. This can be more contagious until it is resistant to the types of vaccines that exist.

Although vaccine production is deemed sufficient to protect all adults in the world by the end of 2021, the efficacy (efficacy) and uneven distribution of vaccines imply that most countries are still unable to achieve herd immunity levels.

The World Bank states that some estimates suggest that by the end of 2021, under the most optimistic scenario, vaccination coverage according to vaccine efficacy in high-income countries will be 81 percent, and in developing countries only 55 percent.

The importance of accelerating vaccination was also conveyed by BUMN Minister Erick Thohir on several occasions. Erick stated that vaccination is an important part of the three existing game-changers to restore the economy.

The safety of vaccine stocks, distribution of vaccines, and the acceleration of vaccination is the top priority for the government at this time. "Vaccination is the key to economic recovery," said Erick Thohir.

Erick Thohir, who is also the Executive Chair of the Committee for Handling Covid-19 and National Economic Recovery (KPCPEN), said the government has secured nearly 340 million free vaccines. This amount is enough for 170 million people so that by December 2021 or February 2022 vaccinations can be completed 70 percent.

The government has also prepared a cooperation vaccine program for private companies who want to organize and distribute them free of charge to their workers. Erick assessed that the cooperation program will help accelerate Indonesia's vaccination program and economic recovery.