Manila, Philippines – Rep. Leandro Legarda Leviste insisted that the real problem of the Philippines is not the war in the Middle East, but rather tax waste.
Leviste said that the country’s economy will lose P300 billion due to the increase in oil prices.
But due to the improper use of the country’s funds before the crisis, the country’s debt could reach more than P19 trillion.
The congressman also gave steps that can be taken to avoid this scenario.
Leviste also believed that even though the government is not in control of the continuous increase in oil prices, it is in control of the people’s tax collection.
Furthermore, it is not necessary to reach the point where the oil crisis is followed by a debt Crisis.