Greece plans to raise 8 to 10 billion euros from debt markets in 2025 through new short- and long-term bond issues and continue repaying loans it took out under bailout programs ahead of schedule, two government sources told Reuters.

“We plan to raise 8-10 billion euros from the bond markets next year,” one of the officials said.

Greece has raised around €9bn from new issues and bond reissues so far this year.

As of 2020, its debt – the highest in the eurozone – has shrunk by 40 percentage points to 160% of GDP in 2023 and is expected to fall to 152% of GDP this year.

Greece in 2022 began repaying earlier the loans it received from eurozone countries during the first bailout program in 2010-2012, benefiting from its economic recovery and primary budget surpluses.

“Our intention is to continue on the same path in 2025 so that we can have a strong presence in the bond markets without increasing our debt,” said a second official without giving details of the amount.

In December, it will repay installments of €8 billion due in 2026, 2027 and 2028, as the Greek economy is forecast to grow by 2.5% in 2024 and at a similar rate in 2025, outstripping the eurozone average. Reuters reports.

Including this year’s scheduled payment, Greece will have repaid around 20 billion euros to its eurozone partners from its first bailout of 53 billion euros. In 2022, the country paid off the IMF two years ahead of schedule.

The government is expected to achieve a primary surplus – excluding interest – of 2.1% of GDP in 2024. It has pledged to continue to achieve primary surpluses of around 2% of GDP in the coming years, a key condition to keep its public debt sustainable.