Biontech – The benefits of the German economy – Economy

According to economists, the success of Mainz biopharmaceutical company Biontech with its corona vaccine is boosting economic growth in Germany. “Biontech could contribute around 0.5% of gross domestic product this year,” Scientific director of the Institute of Macroeconomics and Business Cycle Research (IMK) Sebastian Dullien told the news agency on Tuesday. Reuters. “As a result, economic growth is also expected to increase by about half a point.” Many experts estimate that Europe’s largest economy will grow around four percent this year, of which around an eighth is attributable to Biontech alone.

“I can’t remember a case in which a company had such an impact on German GDP,” Dullien said. As a macroeconomist, he generally does not select companies. “Sometimes, however, there are rare instances in which individual companies have macroeconomic relevance,” the scientist said. “BioNTech is such a rare example.”

Dullien’s calculations are based on the company’s forecast released on Monday. With the Covid-19 vaccine, it promises a turnover of 15.9 (previously: 12.4) billion euros this year. This corresponds to around half a percent of German gross domestic product. “Since Biontech buys relatively few preliminary products from overseas, this is almost pure domestic added value,” the economist said.

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