KUALA LUMPUR: Less than a week after Malaysia said it would not discount the likelihood of hastening a stimulus package to bolster the economy amid fierce headwinds, the ministry of finance (MoF) is now preparing the booster shot to overcome the economic impact of the rampaging Wuhan virus. “MoF is very concerned with the outbreak of the 2019 novel coronavirus (Wuhan virus) which has affected the economy in general, and especially the tourism industry. Impact of the Wuhan outbreak is likely to be the most felt in Malaysia’s tourism industry, he added. Besides Malaysia, China, whose economy now accounts for about 17% of global GDP, is also the largest trading partner to most of its neighbours. And “those most dependent stand to be hit hardest” by the virus outbreak, according to Bloomberg.

Source: The Edge Markets February 06, 2020 00:00 UTC