The government is expected to allocate up to RM19 billion for the implementation of the economic stimulus package to assist the country's economy with the impact of the COVID-19 outbreak.

Chairman of the Malaysian Institute of Economic Research (MIER), Tan Sri Dr Kamal Salih, said if the additional figures of government allocation were correct, it could provide economic injection to the affected industries.

He said among the industries expected to receive the injections were the tourism industry and related industries.

“The tourism industry is among the worst affected by the spread of COVID-19. Certainly, additional funding is needed to revitalize the industry.

“In addition, the manufacturing sector is also expected to be the focus of the government in this economic stimulus package as it is also adversely affected by the supply chain from China.

"Trade needs to be improved, enabling us to reach our GDP targets," he said.

Analysts and economists have also indicated that the stimulus package will be channeled to specific sectors that are likely to reduce the impact of COVID-19 on the country's economy.

These include the tourism, manufacturing and trade sectors.

Prime Minister Tun Dr Mahathir Mohamad will announce an economic stimulus package on February 27 as the government seeks to reduce its external economic impact following the outbreak of COVID-19.

The stimulus package to be announced is not a new budget or part of the Budget 2020 policy, but rather assistance is being channeled to the affected sector.