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Athens, May 19, 2025, The international rating agency Fitch has upgraded Greece’s economic outlook from stable to positive, signaling growing confidence in the country’s sustained recovery and fiscal discipline. The move reflects a series of upward revisions by global credit agencies recognizing Greece’s notable progress over recent years.
Fitch’s latest report highlights that Greece’s structural reforms, enhanced fiscal control, improved tax collection, and efforts to combat tax evasion have fundamentally transformed the country’s economic profile.
According to Fitch, Greece exceeded expectations in 2024, posting a general government surplus of 1.3% and a primary surplus of 4.8%, outperforming prior estimates. The agency forecasts a budget surplus near 1% for both 2025 and 2026, underscoring a robust fiscal position.
Significantly, Greece achieved the steepest public debt reduction post-pandemic among Fitch-rated nations. The country’s cash reserves stand at €36 billion, roughly 16% of GDP, sufficient to cover debt maturities over the next three years. Fitch expects the debt-to-GDP ratio to continue its downward trajectory, potentially reaching around 120% by 2030 under baseline scenarios.
Fitch also praises Greece’s prudent and credible fiscal framework, aligned with the European Union’s updated fiscal rules. The agency notes the government’s strong commitment to fiscal discipline, with the recent update to the medium-term fiscal plan consistent with the new EU guidelines.
On growth, Fitch projects Greece’s GDP expansion to remain above 2% in 2025 and 2026, well above the Eurozone average forecast of 0.4%. The report highlights real income gains, rising employment, and ongoing investment growth as positive economic drivers.
While Fitch remains cautious about potential shocks to major European economies such as tariff impositions it emphasizes that Greece is on a steady path toward economic maturity and enhanced international credibility.
The Greek Ministry of National Economy and Finance reiterated its commitment to maintaining a stable, growth-oriented economic course that improves the living standards of its citizens.
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