Greece’s long-term rating upgraded to ‘BB+’

The US rating agency S&P has upgraded Greece’s rating from ‘BB’ to ‘BB+’, according to a press release. This level means that there is a possibility of developing credit risks.

The S&P press release notes that GreekReporterreferring to Interfax:

“The upgrade reflects our expectation of further improvement in the effectiveness of Greece’s policy.”

S&P economists believe that the events in Ukraine will not have a negative impact on the Greek economy. The consequences will be acceptable to her, thanks to the presence of “buffers both in the private sector and in the public sector.”

However, analysts predict a slowdown in the country’s GDP growth this year – to 3.4% compared to 8.3% in 2921. The deterioration of the situation was influenced by the rise in energy prices and the acceleration of inflation in general. S&P experts expect the Greek economy to grow by more than 3% per year in 2023-2025.

In early April, S&P downgraded Russia’s long-term foreign currency sovereign credit rating from CC to SD.

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