Taiwan proposes $7.5 billion in spending as domestic COVID-19 cases rise

People wear protective face masks while crossing the street amid the coronavirus disease (COVID-19) pandemic, in Taoyuan, Taiwan, May 12, 2021. REUTERS/Ann Wang

TAIPEI (Reuters) -Taiwan's government proposed on Thursday an extra T$210 billion ($7.52 billion) in spending to help the economy deal with the COVID-19 pandemic, as it reported 13 new domestic cases amid a rare spike in infections that has spooked the stock market.

Early and effective prevention steps, including largely closing its borders, succeeded in shielding Taiwan from the worst of the pandemic. The island of 24 million people has reported just 1,256 infections so far, most of them imported.