Fitch affirms Greece’s rating at ‘BB’

Analysts Fitch reported on the verdict on Greece. The country’s rating was retained at ‘BB’. At the same time, the prognosis was upgraded to “positive”. The review of the agency notes that the forecast enhancement was made possible due to the efficient recovery of the country’s economy. Fitch analysts believe that this mode will continue in the short term. They also believe that the Greek budget deficit will decrease, which will reduce the amount of national debt at a more significant rate than previously thought. According to the agency’s prognosis, by the end of this year, the public debt of Greece will decrease to 190.3% of gross domestic product. By the end of next year, the figure will decrease to 185.3% of GDP. The agency’s analysts accept that Greece’s rating will be upgraded in the future. Such a judgment can be made if the size of the public debt will decrease in accordance with the prognosis, and the Greek economy will demonstrate sustainable growth rates.

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Arseny Kudrin

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