Stimulus package mulled to help shore up economy

KUALA LUMPUR: The government is considering boosting its economic stimulus package pursuant to prioritising the safety and well-being of the people. The effort is aimed at mitigating the impact of the 2019 Novel Coronavirus.

Economic Affairs Minister Datuk Seri Mohamed Azmin Ali said although the government has allocated RM227 million in 2020 for the purchase of medical and nonmedical equipment for all health facilities nationwide, it is considering supplementing it.

“The Ministry of Economic Affairs is prepared to consider adding to the provision if necessary,” he said in a statement yesterday.

Mohamed Azmin added the government has taken steps to ensure the country’s readiness to address the coronavirus infection in line with recommendations from the World Health Organisation, which on Thursday announced a global public health emergency.

Bernama reported figures from the Chinese Embassy (in Malaysia) Facebook page which reported 304 fatalities in China as of yesterday and about 12,000 cases detected worldwide.

Mohamed Azmin said if the coronavirus outbreak persists over a period of time and has an impact on the Chinese economy, the Malaysian economy would be affected, as China is one of Malaysia’s most important trading partners.

Sectors expected to feel the impact include tourism, aviation, transport, education, manufacturing and construction.

Last year, Malaysia received almost 26 million tourists and more than three million were from China. – Bernama