PUTRAJAYA is mulling over an economic stimulus package amid the backdrop of the coronavirus outbreak, said Economic Affairs Minister Mohamed Azmin Ali.

He said the package will prioritise the public’s needs, ensuring their safety and well-being.

Azmin said the government, international agencies and the private sector will take proactive measures based on the latest information to contain the negative effects of the outbreak on the Malaysian economy.

The impact of the outbreak on China’s economy is likely to spill over to Malaysia’s.

China is Malaysia’s largest trading partner.

Tourism, aviation, transportation, education, manufacturing and construction are sectors expected to take a hit.

The tourism sector, which contributed 3% to the gross domestic product, saw 26 million arrivals last year, of which more than three million were from China.

The manufacturing and construction sector, which relies on inputs from China, will be affected if it extends the quarantine period or locks down more cities.

Azmin’s ministry has allocated RM227 million this year for the purchase of medical devices and other requirements for healthcare facilities across the country.

“The ministry is willing to consider additional allocation if required. The government is willing to prioritise on the health and wellbeing of the people,” he said in a statement.

The government has also taken precautionary measures in line with the recommendation of the World Health Organisation (WHO), including increasing awareness of all quarters to manage the outbreak.

“The people are also advised to get information from official channels of the government especially the Health Ministry,” he said.

On Thursday, Finance Minister Lim Guan Eng had said the government was evaluating the need for an economic stimulus package and ready to launch the measures to deal with the effects of China’s coronavirus.

He said it was still early for the government to take the action as it needed to study and analyse the extent of the impact of coronavirus.

As of yesterday, the virus has claimed 304 lives and 12,000 infected in 24 countries. – February 2, 2020.