As a confirmation of ‘Country’s recovery course’characterizes the upgrading of the prospects of the Greek economy by the Fitch, the Ministry of National Economy and Finance, in a text of an informal information he published.

Radical change of Greek economy

Specifically, as noted “Fitch investment house has upgraded the prospects of the Greek economy tonight, from constants to date, confirming the country’s steadfast recovery course. One after the other, international rating firms have raised Greece, recognizing the great progress that has been made in recent years. Fitch is revising its forecasts for the Greek economy, pointing out that Recovery reforms, fiscal control, improved tax collection and fight tax evasion They contributed to the radical change of her image »noted in the same update.

Points of Fitch’s report, according to the Ministry of Foreign Affairs

• The total surplus of 1.3% and primary 4.8% for 2024 exceed the house’s estimates, as he characteristically states. Given this strong position, Fitch provides for a total surplus in the budget of 2025 and 2026 close to 1%.

• A sharp decline in public debt is found. Greece has achieved the highest decline in debt after the pandemic among the countries evaluated by Fitch. It is also noted that high cash reserves of EUR 36 billion (16% of GDP) are sufficient to cover all debt maturities, in this case bond expires, the next three years. The house predicts that the rapid debt reduction will continue in the medium term, with the rate of debt to GDP approaching a basic scenario of 120% by 2030.

• Particular reference is made to the prudent and reliable fiscal framework, based on which the country is moving. It underlines the government’s strong commitment to fiscal prudence and stresses that the latest official fiscal provision, namely the briefing of the mid -term budget plan of May 2025, is fully aligned with the new EU budgetary framework.

• Fitch focuses on the country’s durable economic growth, which runs at 2.3% in 2024. It estimates that growth will remain above 2% in 2025 and 2026, multiple 0.4% which is the provision of the house for the eurozone average. The report highlights the actual increase in citizens’ income and enhancing employment, at the same time that the rise in investment continued.

On the same course with plan and stability

The Note’s Information Note concludes: “Fitch’s assessment of the possibility of a more serious ‘shock’, as it describes it, in Europe’s major economies as a result of the imposition of duties, makes it more restrained in its estimates by other international firms. However, in its report, she points out that Greece is walking In a steady orbit of economic maturation and credibility. The Ministry of National Economy and Finance will continue on exactly the same course with plan and stability For a strong economy and for a sustainable development that will be reflected in the lives of Greek citizens. “