EUROPEAN CHAMBER OF COMMERCE OF THE PHILIPPINES (ECCP): European businessmen bats for suspension of fuel tax hike

European Chamber of Commerce of the Philippines (ECCP) issued the following announcement on Dec. 5.

The government should suspend the second tranche of fuel excise tax increases next year due to uncertainty that inflation will continue to slow, a businessman said Wednesday.

"I would leave it suspended at this point in time and see where the trend heads," said Manila-based Austrian businessman Guenter Taus.

Inflation may spike again, especially with OPEC seeking to reduce output following the recent downtrend in world oil prices, said Taus, the former president of the European Chamber of Commerce of the Philippines.

This article was originally published in ABS-CBN News last December 05, 2018.

Original source: https://www.eccp.com/articles/?id=2109