Some economists believe that it is rare for a single company to have such a large macro impact. However, the latest results from BioNTech show that the start-up expects to rack up $18.63 billion in revenue from its vaccine production this year, up from an earlier forecast of $14.53 billion.
Alberto Bagnai, associate professor of economic policy at Gabriele d’Annunzio University and member of the Italian Senate of the Republic, retweeted an article shared by Philipp Heimberger, an economist at the Vienna Institute for International Economic Studies, on start-ups. Biotech startups BioNTech are expected to boost the German economy by up to 0.5% in 2021. That’s almost an eighth of overall GDP growth this year.
Germany’s economy grew by around 4% in 2021, following a pandemic-related decline of 4.6% in 2020. The country’s GDP was around $3.87 billion in 2020, but the success of the production and development of its coronavirus vaccine is likely to have a direct impact on its economic growth.
Just one company – Biontech, the vaccine developer – could boost the German economy by 0.5% this year (accounting for around one-eighth of overall GDP growth in 2021). 😳 It’s not too often that a single company has such a large macro impact: https://t.co/dNcGpA4afv pic.twitter.com/lEreMHCVd4
— Philipp Heimberger (@heimbergecon) August 10, 2021
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Gregory Daco, chief US economist at Oxford Economics and former board director of the National Association for Business Economics (NABE), retweeted an article written by Christopher Rugaber, a Federal Reserve and economics reporter, on comments by St. Louis Federal Reserve Chairman James Bullard on the U.S. Fed waged the last war, while some officials still underestimate the pace of improvement in the economy, which has far exceeded recovery from the 2009-2009 recession.
Referring to a recent jobs report, Bullard says robust job growth could soon support the Fed’s tapering. The report highlighted healthy job gains with 943,000 jobs added in July, meaning the economy is growing and needs less reliance on stimulus efforts. As a result, the Fed could reduce its $120 billion monthly bond purchases that began in March 2020 when the Covid-19 pandemic hit the United States.
Bullard believes that a full recovery in the labor market is a more tangible goal, while the reduction in asset purchases could end by the first quarter of 2022. Consequently, strong employment growth of 750,000 over the next eight months and through March 2022, for example, could bring the U.S. economy back to pre-pandemic employment levels.
St. Louis Fed’s Bullard says the Fed is waging the last war: “Throughout the monetary policy community…everyone has these ideas in mind about the very slow pace of recovery from the global financial crisis in the States States » https://t .co/NmNUGCfZmh
— Chris Rugaber (@ChrisRugaber) August 10, 2021
Joao Pedro Azevedo
João Pedro Azevedo, Senior Economist at the World Bank and former Superintendent of Monitoring and Evaluation at the State Finance Secretariat of Rio de Janeiro and researcher at the Brazilian Institute for Applied Economic Research, shared an article on the India has experienced note inflation during the pandemic, where grade 12 results rose by 16%.
In a year of lesser learning and tainted education, Indian school boards posted the best results in grade 12, indicating a sign of urgent reform. In addition, almost all school board students passed the grade 12 exam this year. Some boards, such as the Central Board for Secondary Education (CBSE), have shown that the number of students achieving grades of 95% or above has more than doubled since 2020.
Pedagogues say students’ post-pandemic results and performance are inexplicable and will pose new challenges for learners, who will now have to prove themselves even better above a majority of toppers.
— João Pedro Azevedo (@jpazvd) August 10, 2021