OR Fitch revised her prospects Greece in positive, while confirming the BBB rank, according to the latest evaluation.
Fitch investment house upgraded the prospects of Greece’s economy to positive, from constants to date, pointing out that reforms, fiscal control, improved tax collection and the fight against tax evasion have contributed to radical change.
Specifically, according to the report, the total surplus of 1.3% and primary 4.8% for 2024 exceed the house’s estimates, as he characteristically states. Given this strong position, Fitch provides for a total surplus in the budget of 2025 and 2026 close to 1%.
There is a sharp decline in public debt. Greece has achieved the highest decline in debt after the pandemic among the countries evaluated by Fitch. It is also noted that high cash reserves of EUR 36 billion (16% of GDP) are sufficient to cover all debt maturities, in this case bond expires, the next three years. The firm predicts that the rapid debt reduction will continue in the medium term, with the rate of debt to GDP approaching a basic scenario of 120% by 2030. Particular reference is made to the prudent and reliable budgetary framework, based on which the country is moving.
It highlights the government’s strong commitment to budget prudence and stresses that the latest official budgetary forecast, namely the updating of the mid -term budget plan of May 2025, is fully lined with the new EU’s new fiscal framework. 2% in 2025 and 2026, multiples of 0.4% which is the provision of the house for the average eurozone.
The report highlights the actual increase in citizens’ income and enhancing employment, at the same time that the rise in investment continued. Fitch’s estimation of the possibility of a more serious “shock”, as it characterizes, in Europe’s major economies as a result of the imposition of duties, makes it more restrained in its estimates by other international firms. However, in its report, she notes that Greece is walking on a steady track of economic maturation and international credibility.