Prime Minister Scott Morrison has re-cast the government's efforts to deal with climate change as protection of the budget bottom line as it prepares for a hit to the nation's finances from the summer's bushfires and the outbreak of the coronavirus.

With new research showing the coronavirus will hurt the Australian economy through to the middle of the decade, Mr Morrison said there could be a financial bonus from spending on efforts to adapt and become more resilient to climate change.

The government, which has forecast the first budget surplus since 2007-08, has earmarked $500 million this financial year to dealing with the fallout from the bushfires. There are already signs the fires have hit parts of the economy with the key December retail sales figures expected to show a fall in consumer expenditure.

Scott Morrison has re-cast spending on climate change mitigation as a way to protect the budget bottom line. Credit:AAP

Mr Morrison, addressing the National Press Club on Wednesday, said the nation's economic fundamentals remained solid despite ongoing global uncertainty in areas from technological change to environmental challenges.