Fitch Ratings announced that it raised Greece’s long-term credit rating from BBB minus to BBB, citing accelerated debt reduction, strong fiscal results and solid economic growth.
Fitch Ratings announced that Greece is on track to reduce its debt-to-GDP ratio by nearly 20 percent in 2024 and 2025.
The debt level is expected to approach 120 percent of GDP by 2030, Greek news agency AMNA reported.
The credit agency highlighted stable economic growth of around four percent, primary surpluses and cash reserves sufficient to cover financial needs in the next few years.
Improved tax collection, strict expenditure control and constant budget surpluses were also cited as results exceeding the median of the BBB category.
The spokesman of the Greek Government, Pavlos Marinakis, welcomed the increase in the credit rating and said that it was a reflection of the growth of international confidence in the Greek economy.
(Vijesti.ba)
