“Very good news yesterday from Fitch Ratings. The upgrade of the Greek bond to BB+ takes us just one notch below investment grade. We are fully committed to our reform agenda to attract investment, create jobs and accelerate growth,” the Prime Minister said on his official Twitter account. Kyriakos Mitsotakis after Fitch upgraded Greece’s credit rating.
Very good news from Fitch Ratings yesterday. The upgrade of Greece’s credit rating to BB+ means that we are only one notch below investment grade. We are fully committed to our reform agenda to attract investment, create jobs and boost growth.
— Prime Minister GR (@PrimeministerGR) January 28, 2023
Fitch has upgraded Greece’s credit rating to BB+ with a stable outlook.
The upgrade reflects the improvement in our country’s fiscal prospects, lower risks in the banking sector, structural dynamics, macroeconomic prospects and the speed of reforms achieved, inflation slowdown and stable funding costs.
Fitch now expects better deficit and debt results and improved guidance for 2022-2024. thanks to stronger nominal growth and a favorable debt-servicing structure. It projects the general government deficit to narrow further to 1.8% of GDP in 2024 from an estimated 3.8% in 2022. This assumes a 0.9% surplus in 2024 (and a balanced position in 2023). ). The House of Representatives is certainly highlighting some fiscal policy uncertainty after the upcoming parliamentary elections, but the risks are mitigated by broad commitments and a recent history of fiscal prudence.
Source: Kathimerini
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