Her new super performance Greek economy against it all Eurozone more and more houses are expected, despite the problems associated with higher interest rates in the financial performance of countries, and thus Greece is expected to stand out for another year. In fact, they do not rule out that three of the four rating agencies will achieve investment grade before the end of 2023, which means that Greek bonds they will enter the international bond indices in just a few months, which means they will have a wider audience of long-term and quality investors.

Shortly before Greece’s scheduled assessment, Fitch in a new report indicates that Greece will be one of eight countries out of 22 countries monitored in Europe that will see an improvement in their fiscal balance this year compared to 2022. , while the region’s average budget deficit is expected to widen to 2.3% from 1.2%.

Ensuring an improvement in the state of the budget in 2023 is much more difficult than in 2022, as the House of Representatives points out. This highlights the challenges of fiscal policy in Europe at a time when the economy is slowing down, when debt servicing costs are high and debt-to-GDP ratios are below average. move up.

In particular, by calculating the overall change in the pre-pandemic debt ratio in 2019 through the end of 2023, Fitch concludes that 14 out of 22 countries will experience growth. However, after Ireland, Greece will record the largest reduction in debt-to-GDP in the region over this period, reaching 12%.

JP Morgan estimates that Fitch will be one of three companies to give Greece an investment rating this year.

That’s why, as Fitch points out, Greece was the only one of the four countries (other than Portugal, Ireland and Cyprus) that was upgraded this year and is now one step away from being an investment. Moreover, the house has repeatedly emphasized that the condition for an increase in the rating of our country is the confidence that the debt index is on a sustainable downward trajectory.

However, JP Morgan estimates that Fitch will be one of three companies to give Greece an investment rating this year. While he “sees” it’s unlikely to upgrade this Friday, June 9, as he believes the House of Representatives would prefer to wait for the June 25 election results and the government’s future policy agenda, however, at the next assessment in December, he will give an investment grade. According to JP Morgan, Fitch DBRS has already assigned an investment rating to Greece on September 8, and S&P – on October 20.

However, this positive scenario assumes a second term for New Democracy, he notes. “In our opinion, the second term of N.D. this is the surest guarantee that Greece will stick to its course with regard to its financial and reform commitments.

As a result, we continue to expect a continued and strong growth of the Greek economy,” the American bank emphasizes. He estimates that Greece will record the highest growth this year in the eurozone after Ireland, which it puts at 2.4% from 1% earlier, while forecasting inflation to fall to 4.2%, the budget deficit will be set at 1. 3%. and the debt-to-GDP ratio will fall significantly to 160%.