MANILA, May 4 (Reuters) - Philippines President Rodrigo
Duterte on Monday temporarily increased tariffs on imported
crude oil and refined petroleum products to fund measures aimed
at mitigating the economic impact of the coronavirus outbreak.
In an executive order, Duterte imposed 10% additional duties
on imported crude oil and refined petroleum products. Proceeds
from higher tariffs would fund measures to address the outbreak,
including cash dole-outs, the order read.
The Southeast Asian nation typically imposes up to 3%
tariffs on imported crude oil and refined petroleum products,
government data showed.
The Philippines, among the fastest growing economies in Asia
before the outbreak, is a net importer of oil.