Bank of Greece: Greek economy expected to reach “A” credit rating by 2029

Τhe Greek system could “return” to the A standing category, where it stood successful 2009, by the extremity of 2029, according to the Bank of Greece.

As noted, the betterment successful fiscal figures and the strong maturation rates of the Greek system person led to enhanced fundamentals, resulting successful successive upgrades of Greece’s sovereign recognition standing implicit the past years.

“For the play 2026–2029, a further betterment successful key factors is expected, chiefly successful nationalist finances and secondarily successful macroeconomic indicators. Should this materialize, it will pb to further upgrades of sovereign creditworthiness, with affirmative implications for the Greek State, arsenic well arsenic for banks and businesses,” the Bank of Greece emphasized successful its yearly report. It further added that maintaining governmental stability and continuing reforms successful institutions such arsenic the judiciary and nationalist medication are considered captious factors, with tangible benefits for the Greek economy.

It is worth noting that each standing agencies presently measure Greece’s sovereign recognition standing astatine two notches beneath the A category, with the objection of Moody’s, which rates the Greek system three notches beneath A. In the coming days, the announcement of Standard & Poor’s is expected connected April 24, followed by Fitch Ratings on May 8.

Rating agencies’ forecasts for the Greek economy

The three large agencies—Fitch, Moody’s and S&P—forecast affirmative GDP maturation for 2026 and 2027, successful the scope of 2.0%–2.3% for 2026 and 1.9%–2.1% for 2027.

Based connected the assumptions of the Medium-Term Fiscal Framework (MTFF) 2026–2029 of the Ministry of Finance, a gradual deceleration successful economical enactment is expected, with maturation rates projected to easiness from 2.4% successful 2026 to 1.7% successful 2027, 1.6% successful 2028 and 1.3% successful 2029.

Rating agencies’ projections for fiscal figures are comparatively aligned, anticipating the continuation of fiscal subject done 2027.

According to the MTFF 2026–2029 projections, the wide authorities fund is expected to stay broadly balanced, with fiscal revenues covering expenditures. Combined with little involvement costs, nationalist indebtedness is projected to diminution to 119% of GDP by the extremity of 2029, from astir 146% astatine the extremity of 2025.