The increase in vaccination rate has a “brutal effect” on GDP, says Campos Neto

The increase in vaccination rate has a "brutal effect" on GDP, says Campos Neto

The president of the BC (Central Bank), Roberto Campos Neto, said this Tuesday (May 25, 2021) that the difference between vaccinating 1,000 and 2,000 people a day against Kovid-19 “Brutal effect“GDP (GDP). According to him, the immunization process of the population is a”light at the end of the tunnel“.

Campos Neto spoke at a bank event Btg pactual. He said that the composition of Brazil is good for applying the dosage. He celebrated the possibility of vaccinating 40 million people in June, as stated by Minister Marcello Quiroga (Health), and additional doses in developed countries such as the United States.

He also mentioned that other antivirals and Spray Those that are in use can help in the process of normalizing the economy.

“Time is of the essence. If you do a study and see the effect on the GDP of a vaccination of 1,000 people or 2,000,000 people a day, it is a brutal effect.”, He said. “Every month, or week, which has a social distance, is a high economic cost, remembering that I showed that efficiency is decreasing in emerging countries, where people need to work, they are at home for a longer period of time. “, That which has been completed.

Campos Neto said Brazil again experienced a slight uptick in Covid-19 cases, but with fewer deaths in the last few days. “Obviously, this always worries us. We have to move for vaccination as soon as possible”, he declared. According to him, European countries such as Germany have accelerated the vaccination process. China vaccinated about 20 million people a day.

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“We need to participate and accelerate this movement. Brazil has done a relatively good job, it has a capillary of vaccines”, He said.

According to him, measures to restrict social mobility are becoming less effective. This raised questions about the effectiveness of sanctions, especially in emerging countries. However, he considered that the fields had managed to produce the same or even more. home Office, Which demonstrates the adaptation of the Brazilian economy.

He reiterated that the Central Bank should adjust the country’s GDP growth rate to close to 4% in 2021. According to the BC president, the GDP preview for the first quarter was positively a surprise. They expect positive results from April to June. In the second semester, he said that it would depend on the rate of vaccination.

He also said that Pix, BC’s instant payment system, would make it possible to monitor GDP in near real-time with the tool being popularized.

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Sarah Gracie

About the author: Sarah Gracie

Sarahis a reporter covering Amazon. She previously covered tech and transportation, and she broke stories on Uber's finances, self-driving car program, and cultural crisis. Before that, she covered cybersecurity in finance. Sarah's work has appeared in The Wall Street Journal, Bloomberg, Politico, and the Houston Chronicle.

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