Reuters
Date: February 12, 2020

TAIPEI (Reuters) – Taiwan plans to spend T$60 billion ($2 billion) to help cushion the impact on the export-reliant economy from the new coronavirus, offering loans to small businesses and even vouchers to spend on food at night markets.

Taiwan, whose largest trading partner is China, lowered its 2020 economic growth estimate on Wednesday, as the coronavirus outbreak threatens to hit its economy, which is a key part of the global electronics supply chain.

The island has reported only 18 cases of the virus and no deaths, but has largely suspended travel and tourism links with China to help curb its spread. China has reported more than 1,300 deaths.

Taiwan’s cabinet on Thursday proposed in the special budget T$14.23 billion for the transportation and tourism industries, including subsidies for tour agencies whose businesses have been hit hard, and tax cuts for tour bus drivers.    [FULL  STORY]