The Canadian house had given the investment grade to Greece last year in September, while it kept its rating stable in March this year. Next Friday, the evaluation of Moody’s is expected, which is the only one of the big houses that has not yet given the investment grade to Greece.
The Minister of National Economy and Finance, Kostis Hatzidakis, after the announcement by DBRS Morningstar on the upgrade of the Greek economy’s prospects to investment grade, made the following statement:
“The Canadian rating agency DBRS Morningstar, the first recognized by the ECB to award the Greek economy investment grade last year, today upgraded its outlook from stable to positive.
Another positive news for Greece after today’s announcements Eurostat, which rank the Greek economy second in the EU in terms of growth in the second quarter of 2024. Another positive news after the results of the ODDIX auction for one-year bonds, according to which Greece at the beginning of September borrowed at an interest rate of 2.82% , lower than France and comparable to the German counterpart.
Perhaps even more important are what the DBRS report says about the progress and prospects of the Greek economy. To achieve fiscal goals. The growth rate which is higher than the EU average. The positive estimates for the current account balance. The reduction of the public debt which – as mentioned – at the end of 2024 is estimated to be one of the biggest reductions in modern times. But also the political stability that guarantees the continuation of the reforms.
The DBRS Morningstar report is yet another proof of the soundness of economic policy based on fiscal responsibility, pro-investment actions and tangible results for citizens and businesses. It is one more reason to accelerate the effort with the same policy mix to take Greece higher.”
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