How do they positively affect Greek economy and banks
Domino of positive developments for economy And the banks are being launched by the new cycle of upgrades of the Greek honorable. Moody’s has taken the decisive step and gave Greece the investment level, so our country now conquers the investment “stamp” of all ratings. It is a significant imprint of a major footprint, government officials and banking executives have noted new upgrades within the investment level in the coming months that will lead to further reduction in borrowing costs throughout the economy.
Significant benefits are expected for the cost of lending to the Greek State, banks and businesses. Already, Moody’s, shortly after upgrading the Greek debt, has upgraded the credit rating of Greek banks, highlighting their positive growth prospects and highlighting strong performance in capital adequacy and profitability. Indeed, the new data that wants the ECB to consider a decrease in speed in lower interest rates, due to inflation concern, if confirmed will be an additional factor in reinforcing this year’s Greek banks.
The cycle of upgrades
The cycle of new positive evaluations, started by DBRS and continued by Moody’s last week, will have two more important stations in the next two months. In particular, Standard & Poors has planned on April 16, the next assessment of the Greek economy for 2025. In 2024, Standard & Poors had upgraded the prospect of “stable” to “positive”. Thus in the light of the new data, a new upgrade of the Greek debit in the BBB grade is considered possible. Fitch will follow on May 16th, which has given the investment level to our country by 2023. The house has since maintained the BBB investment level- and the prospect of the economy in a stable, it has been given to the EIA.
The positive prospects for new upgrades are immediately strengthened by the fact that the final elements of Eurostat and ELSTAT are expected to be published in April on the amount of primary surplus and the development of the Greek economy in 2024. These are evidence to attest to the Greek economy over the Greek economy. Overward -reflection also in the data on the primary surplus in the first two months this year, which amounted to EUR 2.7 billion, recording significant transcendence from this year’s budget target. The official data of April are expected to send another positive message to the markets and ratings. However, the critical data on the basis of which the range of fiscal space will be used for the new tax cuts announced by the government will be finalized.
