Vaccination against Covid -19 estimated to cost more than $20bn say leading macroeconomic influencers

4 May 2020 (Last Updated May 4th, 2020 09:31)

4 May

The trillions of dollars in lost GDP due to the Covid-19 pandemic has highlighted the importance of vaccinating the population and realignment of business models in order to reopen the economy.

Investment in vaccination is essential even if the cost is high to ensure that the pandemic does not resurface and cause greater damage in the long run.

George Magnus, an economist, shared an article on the cost of vaccinating billions of people against the Covid-19 disease, which is estimated at $20bn.

He noted that the pandemic is estimated to cost the world more than $2tn in lost GDP.

Magnus added that even if the cost of vaccination is $100bn, it will still be worth the investment to protect both the population and the economy.