PUTRAJAYA: Finance Minister Lim Guan Eng says the government will unveil its economic stimulus package to counter the coronavirus outbreak within the next few weeks.
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Economists estimate that between RM10 billion and RM15 billion would be needed to counter a business slowdown because of the coronavirus outbreak which has hit the country’s services and tourism sectors.
While he was tight-lipped about the exact sum of the stimulus, Lim told reporters today that the ministry would continue its discussions with various stakeholders before rolling out the package.
“Either the end of this month or the first week of March,” he said when asked when the package would be announced.
“We will of course get input from everyone. We had a closed-door meeting yesterday (with industry players) who we met for three hours, and we will be having a series of further meetings,” Lim said, adding that Prime Minister Dr Mahathir Mohamad would announce the details of the package.
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Lim previously said the ministry would obtain input from the health ministry on the estimated duration of the outbreak and its effects before determining the amount for the stimulus package.
The Malaysian Association of Tour and Travel Agents (Matta) today said 95,000 hotel bookings had been cancelled due to the coronavirus outbreak and the travel ban imposed by China on its citizens.
The Malaysian Aviation Commission (Mavcom), meanwhile, has reduced its growth forecast for passenger traffic at the country’s airports from an increase of between 5% and 6% to between 4.6% and 5.7%.
Eighteen people have tested positive for the coronavirus in Malaysia so far, of which three have recovered. -FMT