{"id":777011828,"date":"2023-12-12T08:34:13","date_gmt":"2023-12-12T11:34:13","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777011828"},"modified":"2026-04-22T14:47:40","modified_gmt":"2026-04-22T17:47:40","slug":"philippines-expects-to-hit-growth-target","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/philippines-expects-to-hit-growth-target","title":{"rendered":"Philippines expects to hit growth target"},"content":{"rendered":"\n

The Philippines economy is expected to have grown by 6 per cent this year.<\/p>\n\n\n\n\n\n\n\n

The Philippines.-\u00a0<\/span>The National Economic and Development Authority (NEDA)<\/strong>\u00a0has expressed confidence in the Philippines recording 6 per cent economic growth this year. NEDA undersecretary<\/span>\u00a0Rosemarie Edillon<\/strong>\u00a0cited robust third-quarter performance and positive indicators across various sectors. <\/span><\/p>\n\n\n\n

The Philippine economy saw 5.9 per cent growth in GDP in Q3 and 5.5 per cent GDP for the first nine months of 2023.\u00a0<\/span>According to The Philippine News Agency, Edillon emphasised the Purchasing Manager’s Index (PMI) and October’s improved unemployment data as positive factors.<\/span><\/p>\n\n\n\n

As for gaming,\u00a0<\/span>GCG Gaming Advisory Services\u00a0<\/strong>has recently said that Philippine gross gaming revenue (GGR) for full-year 2023\u00a0<\/span>could be between US$5bn and US$5.2bn<\/span><\/a>.<\/span> GGR in the third quarter was US$1.24bn. <\/span><\/p>\n\n\n\n

Analysts said the figure represented \u201cvery little growth,\u201d from the US$1.19bn in the third quarter of 2022 and that Manila\u2019s GGR has been \u201cwell below 2023 expectations.\u201d\u00a0However, analysts remarked that the record GGR of US$1.26bn in the fourth quarter of 2019 is likely to be exceeded in the fourth quarter this year due to increased growth in the Korean visitation and the gradual return of Chinese visitors.<\/span><\/p>\n\n\n\n

See also: <\/strong>PAGCOR posts total income of US$906m for first nine months of 2023<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Philippines economy is expected to have grown by 6 per cent this year.<\/p>\n","protected":false},"author":176,"featured_media":21794,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Philippines' economy is projected to achieve 6% growth in 2023, driven by robust Q3 performance and positive indicators. Concurrently, the iGaming sector's GGR is forecast to reach US$5bn-US$5.2bn for the full year, despite Q3 GGR of US$1.24bn being below expectations. Analysts anticipate Q4 2023 GGR will surpass 2019 records, buoyed by increased Korean and returning Chinese visitation.","focusai_entities":"National Economic and Development Authority, Rosemarie Edillon, The Philippine News Agency, GCG Gaming Advisory Services, PAGCOR","focusai_location":"Philippines, Manila, Korea, China","focusai_target_profile":"ceo_executive (0.9), regulator (0.8), compliance_legal (0.7), operator_casino (0.9), affiliate_publisher (0.7), marketing_crm (0.8), payments_fraud_aml (0.7), investor_analyst (0.9), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR Sustainability","query":"What specific regulatory or operational adjustments are anticipated from PAGCOR to ensure the sustainability of GGR growth, particularly in light of the reliance on international visitation recovery and the prior underperformance against 2023 expectations?"},{"label":"Investment Implications","query":"How might the observed disparity between the overall economic growth trajectory and the iGaming sector's initial GGR underperformance influence capital allocation decisions for integrated resort expansions or new market entrants in the Philippines?"}],"footnotes":""},"categories":[157,16333],"tags":[23907],"class_list":["post-777011828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011828","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777011828"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011828\/revisions"}],"predecessor-version":[{"id":777011839,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011828\/revisions\/777011839"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21794"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777011828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777011828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777011828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}