Media: EU will lose up to 100 billion euros due to slow vaccination rates

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Media: EU will lose up to 100 billion euros due to slow vaccination rates

The European Union may lose 50 to 100 billion euros due to investors’ concerns about the “sluggish” pace of vaccination, writes Bloomberg.

As noted by the agency, the fight against coronavirus in Europe is slower than expected, and this, in turn, leads to a delay in economic recovery and slows business.

In addition, investors are concerned about the growing incidence of Covid-19 in the EU, since it may disrupt their strategies, adds Bloomberg, citing statements by the fund BlackRock Investment and the financial conglomerate Bank of America.

European funds are also concerned about capital outflows, which, according to the material, have been recorded in the region for the third week in a row.

“Europe needs to accelerate the pace of vaccine introduction if it is to beat the virus. <> At the same time, the process (of vaccination) is hampered by bureaucracy and contradictory statements from authorities,” the agency quoted Principal Global Investors fund chief strategist Sima Shah as saying.
The European Commission has contracted about 2.3 billion doses for the EU member states during the development of vaccines. The EU has a population of about 450 million people.

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So far, three drugs have been centrally approved in the European Union, and preliminary contracts have been signed with manufacturers. Nevertheless, states have faced under-deliveries in violation of commitments.