ifo President Fuest Calls for Vaccinations to Speed Up and for Much More Coronavirus Testing in Germany
The ifo President Clemens Fuest has spoken out in favor of a faster pace of vaccination and a massive expansion of coronavirus testing in Germany. “Vaccine procurement and rollout are both too slow,” he said in Munich on Wednesday. The fact that 2.3 million vaccine doses are currently stuck in storage is very regrettable, he said, adding: “Everything that needs to be done to accelerate vaccinations must be done now. We need massive government support to expand the production of vaccines. Virtually any amount the government spends will be worth it because the cost of the lockdown is so high. What’s more, primary care physicians and occupational physicians should also be permitted to perform vaccinations in the future.”
Fuest continued: “Every extra week the pandemic lasts as a result of delays in vaccinations wipes out around EUR 2 billion of value added across the hardest hit sectors of the economy. That’s not including the costs of forgone education, health care costs, or losses due to late effects of Covid. To allow a reopening without causing a third wave, Fuest also called for more testing.
Vaccination delivers enormous benefits worldwide, not only in terms of health but also in economic terms, as Fuest said: “A recent study found that one billion more vaccinations worldwide in 2021 would yield an additional USD 1.75 trillion in overall benefits to society.”
