Pierrakakis: The upgrade by R&I strengthens Greece’s position in international markets
"The upgrade by R&I strengthens Greece’s position in international markets," stated National Economy and Finance Minister Kyriakos Pierrakakis on Monday, following the Japanese credit rating agency's announcement upgrading Greece’s credit rating for issuances in both domestic and foreign currency to BBB, acknowledging the country’s continued strong growth, stable fiscal trajectory, improved public debt sustainability, and the enhanced stability of the financial system.
According to the agency’s assessment,the Greek economy has outpaced the average growth rate of the eurozone, with GDP increasing by 2.3% in 2024, and is expected to grow at a similar pace in 2025. Growth is being driven by private consumption, tourism activity, investments supported through the European Recovery and Resilience Facility (RRF), and foreign direct investment.
R&I emphasised that Greece’s fiscal performance remains resilient, growth is sustainable, and the country continues on a steady path of debt reduction.
The minister’s statement reads as follows: "The upgrade of Greece by R&I, a rating agency with significant influence in Asian markets, strengthens the international reach of Greece’s creditworthiness. It is yet another step in a course based on consistency, reform, and collective effort. With stability and confidence, we are building an economy that creates opportunities and prospects for every citizen."
