The Philippines has experienced strong economic growth this year and has entered a long-term growth trajectory. Investors who have immigrated to the Philippines have a particularly deep appreciation for the country's economic performance in recent years. Recently, Philippine President Aquino signed the 2016 government budget. The total budget amounts to 3.002 trillion pesos, with 36.8% allocated to social services, 27.6% to economic services, 17.3% to general public services, and 4.3% to defense. It is expected that this budget will stimulate the Philippines' 2016 GDP growth by 8%, expanding the deficit to 308.7 billion pesos, which accounts for 2% of the GDP. However, as Aquino himself will step down on June 30 next year, the implementation of this budget remains in doubt.
