Fitch upgrades Greece’s credit rating

According to the statement made by Fitch, the country’s long-term foreign and local currency credit rating was increased from “BB” to “BB+”.

Fitch expects better deficit, debt returns and forecasts in 2022-2024, thanks to stronger growth, budget execution and a favorable solvency structure.

Fitch forecasts GDP growth to reach 0.9 percent in 2023 and 2.3 percent in 2024. Fitch stated that significant progress continues to be made in reducing NPLs in the banking sector. revised to “stable”.