The Canadian House Morningstar DBRS maintained its credit rating for Greece with steady perspectives with steady perspectives in its second evaluation of the Greek economy this year.

The Canadian House notes that steady perspectives reflect his view that the short -term risks to credit ratings are balanced.

The Greek economy, he says, developed at a rate of 2.3% in 2024, a significantly higher yield than the average growth rate of 0.9% for the whole eurozone, adding that the European Commission (EU) provides for similar growth in Greece and this year.

According to the Canadian house, strong domestic demand was the main lever for Greek GDP, which came from a healthy employment growth and EU -funded investment.

Strong economic growth, coupled with repetitive primary fiscal surpluses, has led to a steady reduction in the public debt index to GDP, DBRS adds, noting that the EU expects the country’s debt to decline to 141% of GDP by 2026, from 164%.

However, he stresses that like other European countries, the performance of the Greek economy is partially subject to external threats. Any further deterioration of the geopolitical or global commercial environment that will weaken external demand will inevitably put pressure on the country’s exports and affect the economy as a whole.

Concerning the evaluation of Greece’s credit rating in the BBB, the Canadian House notes that it is supported by the country’s reliable policy framework and its participation in the European Union (EU) and the euro area.

As he notes, successive Greek governments have implemented basic reforms that have strengthened government, improved the country’s business environment and supported debt sustainability. The strong political commitment of all major political parties to a prudent budget policy reinforces the country’s credit quality, the house adds.

Continuing, he notes that the IMF predicts that the primary budget surplus will be on average of 2.4% of GDP by the end of the decade and that the public debt index will be 125% by 2030. However, it stresses that its credit ratings are still in Greek. current transaction.

It is recalled that the Canadian firm had upgraded the Greek economy to the BBB investment level with steady prospects from “Low) with” positive “prospects during its first evaluation on March 7th.

As for the future, Morningstar DBRS notes that it could proceed with a new upgrade of the Greek economy as long as one of the following or a combination happens: a further significant reduction in the public debt index backed by preserved primary surpluses or continuing the implementation of reforms.

Regarding the factors that could lead to a downgrading of the country’s credit rating, it states: a prolonged weakening of budgetary discipline or implementation of any obligations setting the public debt index in a sustainable upward trend, a rise to an outstanding upward trend.

Moody’s take the baton on September 19

The next assessment of the Greek economy will take place on September 19, when Moody’s is going to go on this year. The US House gave Greece the minimum investment level (BAA3) on March 15, with a delay of about 1.5 years from other rating agencies, while changing the prospects of the economy to “stable” from “positive”.

The evaluation of Standard & Poor’s will follow on October 17, on November 7th, the SCOPE verdict, while Fitch will be closed on November 14th this year.