Scope Ratings is sending positive messages about the course of the Greek economy a few hours before the release of its report on the country’s credit rating.
The rating agency noted that Greece is one of the few countries that saw their rating improve in a year.
Moreover, countries that needed economic aid during the European debt crisis, such as Greece, are now benefiting from efforts to restructure their economies. Also, the ongoing momentum of reforms continues to reduce debts, a process that was helped by high inflation and the reduction in spreads.
The agency is taking into account:
- debt reduction
- improving the resilience of the banking system
- structural reforms.
According to the latest estimates of the rating agency:
- Greek debt will decrease to 145% of GDP in 2025 and to 139% of GDP in 2026 to further decline to 132% of GDP in 2029, the lowest level since the 2010 crisis. Furthermore, it estimated that Greek debt will be below the corresponding Italian debt by 2027.
- growth rate will reach 2.4%, will decline to 2.1% in 2025 and 1.8% in 2026
- inflation from 3.1% this year will increase to 3.5% in 2025 and decrease to 2.4% in 2026
- unemployment from 10.1% in 2024 will drop to 9.5% in 2025 and 9.1% in 2026
Scope Ratings’ report “closes” the cycle of credit rating for this year. The agency rates Greece’s BBB- with positive prospects.
