Mask-clad commuters get off a train at a Mass Rapid Transit (MRT) stop in Taipei following the Lunar New Year holidays on Jan 30, 2020. (PHOTO / AFP)

TAIPEI - Taiwan on Thursday raised its epidemic response level to the highest as it readied a US$2 billion package to cushion the impact of the coronavirus outbreak on its export-reliant economy.

The move allows Taiwan authorities to tackle the virus outbreak in a much faster manner with more resources across various ministries, the island's Central News Agency reported.

The island has seen 32 cases of the coronavirus and one death

Su Tseng-chang, the chief of Taiwan's executive body, announced the decision in a meeting on Thursday, citing sporadic cases of community transmission on the island, which has seen 32 cases of the coronavirus and one death.

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It came days after Taiwan’s elected representatives approved a T$60 billion (US$2 billion) package to soften the impact from the virus on its economy, which includes loans for small businesses, subsidies for hard-hit tour agencies and even vouchers to spend on food in Taiwan’s famous night markets.

“As the international epidemic outbreak gets more serious day by day, Taiwan needs to enhance its defence against the virus,” Taiwan leader Tsai Ing-wen said on Thursday morning.

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The island also postponed an annual pilgrimage of the sea goddess Mazu in which more than one million people were expected to join a 340km trip in the island’s largest religious procession.

The island has largely suspended travel and tourism links with Chinese mainland to curb its spread and advised citizens against visiting South Korea.

This week Taiwan passed a bill to penalize people who violate mandated home quarantine orders, with those in breach possibly facing a T$2 million fine or two years in jail.