Greece will be added to the Watch List for a possible upgrade from “Advanced Emerging” to “Developed Market” status, FTSE announced on Tuesday.

In order to obtain Developed Market status, Greece meets the necessary requirements such as: the twenty-two FTSE market quality criteria, the minimum market capitalization and number of securities requirements, based on data from the close on 28 June 2024, and
has a Gross National Income (GNI) per capita rating of ‘High’.

Based on these criteria, FTSE Russell has decided to add Greece to the watch list as part of the September 2024 annual stock market review for possible reclassification from “Advanced Emerging” to “Developing Market” status.

Hatzidakis: The upgrade of the Stock Exchange ranking is excellent news for Greece

“The upgrading of the ranking of the Athens Stock Exchange with the aim of returning it to the category of developed markets by FTSE Russell is excellent news for Greece. It is a result of the positive developments in the economy, the positive prospects that are opening up and also the specific successful moves of the government in the field of privatizations.

I mention, for example, the increase in the share capital of PPC, the introduction of the shares of the airport El. Venizelos on the Hellenic Stock Exchange, the sale of Helleniq Energy shares. And above all – due to the size and specific weight of the banks in the economy – the completion of the disinvestment of the HFSF from the systemic banks and also the developments in relation to the fifth banking pillar.

The Greek Stock Exchange is on its way to joining the world’s leading capital markets. And this creates conditions for further introduction of capital into the country, improvement of financing conditions for listed companies, productive investments and new jobs”.