S&P raises its forecast for the Greek economy to “positive”

The S&P rating agency has sent a positive signal to the Greek economy by raising its outlook to “positive”.

At the same time, the credit rating of the Greek economy remained at ‘BB+’, just one notch below investment grade. It is possible that the recovery of investment grade will occur before the end of this year, as Societe Generale and JP Morgan predicted in their analyzes. In that case, of course, if a stable government is formed and there are no political “adventures” in the coming months.

How recalls CNN Greece, S&P last upgraded Greece in April 2022 and Fitch in January 2023. However, it should be noted that the rate of increase this year has slowed down to about one notch per year.

Many factors influence the recovery of the investment level: the course of economic development, the budget deficit or surplus, the presence of debts, reforms, political conjuncture. In the financial part, judging by the reports of investment houses, Greece seems to have returned to the pre-crisis level and is able to restore the investment level. However, in the midst of an election period, it is extremely difficult, if not impossible, to make evaluation decisions. The next dates when investment houses plan to announce their decisions regarding the course of the economy and its possible recovery:

• June 9: Fitch Ratings
• August 4: Scope Ratings
• September 15: Moody’s Ratings
• October 20: S&P Ratings
• December 2: Fitch Ratings.

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