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Jakarta Post

'No silver bullet': Business leaders manage vaccine expectations as rollout begins

  • Adrian Wail Akhlas

    The Jakarta Post

PREMIUM
Jakarta   /   Thu, January 14, 2021   /  08:39 am
The Jakarta Post Image
A worker transports a container of Sinovac Biotech's CoronaVac vaccine on Jan. 12, 2020 at Soekarno-Hatta International Airport in Tangerang, Banten. Indonesia commenced its nationwide vaccination program on Wednesday, with the President becoming the first to get a jab.(Antara/Dhemas Reviyanto)

Business and economics figures are carefully managing their expectations on economic recovery following the rollout of Indonesia’s COVID-19 vaccination program on Wednesday morning, keeping a watchful eye over the program’s potential challenges and that it would take time until the coronavirus outbreak can be brought under control to allow businesses to resume operating normally. “The vaccination [program] may give a boost to [consumer] confidence. But the vaccination drive is not a silver bullet and therefore, structural reform to attract investment is crucial to jack up the economy,” Bahana Sekuritas economist Satria Sambijantoro told The Jakarta Post on Tuesday. Indonesia is likely to see economic growth of up to 5 percent this year, driven by the low-base effect, Satria added. The country plunged into recession in 2020 for the first time in two decade...