Taiwan plans to spend T$60 billion ($2 billion) to help cushion the impact of th...
TAIPEI - Taiwan plans to spend T$60 billion to help cushion the impact of the new coronavirus on its export-reliant economy, offering loans to small businesses and even vouchers to spend on food at night markets.
It has reported just 18 cases of the virus and no deaths, but has largely suspended travel and tourism links with China to curb its spread. China has reported more than 1,300 deaths. “The spread of the virus in mainland China is set to have some impact on Taiwan industries,” Wu Ming-huei, deputy research director of the National Development Council told a news conference, while adding the impact would be less serious than that of SARS.The outbreak will knock 0.35% to 0.5% off GDP this year if it lasts for three months from the end of January until April, Wu added.
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