Mari Elka Says There Are Already Signs of Economic Recovery
JAKARTA – (14/8/2021) Managing Director of the World Bank Mari Elka Pangestu said signs of world economic recovery have been seen in line with the acceleration of vaccinations and stimulus provided by governments around the world.
The former Minister of Trade assessed that vaccination and stimulus were the main keys in Indonesia’s economic recovery.
“What are evident for future projections is that there are already signs of recovery, even the projections of the global economy are also experiencing rapid recovery, especially driven by the US with its large stimulus program and high vaccination rates, as well as growth in China.” Mari said in the Virtual Congress of Indonesian Diaspora (CID) ‘The Role of Diaspora in Nation Development’, Saturday (14/8/2021).
Mari Elka highlighted how large the effect was of accelerating vaccination and stimulus to minimize the economic impact. “The main key is the level of vaccination and also how far the stimulus can be implemented in each country.” she explained.
On the other hand, global cooperation between countries to ensure the supply-demand side of the vaccine needs to be carried out. “I just want to say that global cooperation in terms of availability from developed countries to developing countries needs to be done.” Mari said while saying that vaccine manufacturers are still concentrated in developed countries.
Indonesia is targeting more than 200 million of its population to be vaccinated with an average target of 1-2 million injection doses per day in several priority areas.
Meanwhile, Mari Elka highlighted the inequality of vaccination in a number of countries. “Currently in Africa only 1% compared to developed countries, and production is still concentrated in developed countries.” she said.
From the demand side, countries must be ready to receive regular supplies of vaccines, while considering other factors of readiness. Such as the issue of immunity for health workers, training of workers, and vaccination approaches to the public.
“The two things that have the biggest impact are the adequacy of medical personnel to carry out vaccinations and communication from the state and communities to the general public” she explained.
She predicts that the acceleration of vaccination can be completed in 2022. “Because indeed all these predictions are closely related to how far the country can accelerate the vaccination program.” she explained.
Not to forget, government stimulus has an effect on the public. However, she highlighted the imbalance in the allocation of stimulus between developed and developing countries. “Certainly developing countries are in an unfavorable situation, if on average developing countries can only have 4-5% of gross domestic product (GDP) power to carry out stimulus including social protection for their people, where developed countries can reach 10-20%, therein lies the difference.” she said.
Source: https://economy.okezone.com/read/2021/08/14/320/2455585/mari-elka-bilang-already-ada-sign-pemulihan-ekonomi
Related news can also be seen at: https://www.idntimes.com/business/economy/rehia-indrayanti-br-sebayang/bank-dunia-pandemic-covid-19-buat-negara-berkembang-menderita
(am)