PT Bahana TCW Investment Management (Bahana TCW) predicts that the surge in COVID-19 cases will not affect as deep as the first spike at the beginning of the pandemic.

"Besides our economic fundamentals are still good, market participants have learned a lot from the previous surge in COVID-19 cases. In addition, the acceleration of vaccination for the Indonesian people, which is currently being pushed by the government, is perceived as a positive sentiment by market players," said Chief Economist of Bahana TCW, Budi Hikmat, in a statement in Jakarta, Friday (2/7).

According to Budi, a sufficient supply of vaccines from various producing countries will be maintained because major vaccine-producing countries have achieved high vaccination rates, such as the United States, which has reached 54%, the UK has reached 65%, and India has 20%.

"If the planned arrival of this vaccine goes according to plan, we estimate that 70% of Indonesian people