Moody’s took a “stricter” stance compared to the other agencies when in Sept. of 2023 it refused to grant Greece the investment grade.
Last April’s positive outlook issued by the agency lays the groundwork for another potential upgrade.
Data shows that Greece’s dependence on Middle Eastern oil is the highest among developed economies, as is its reliance on exports to the Middle East and North African region.
Yannis Stournaras addressed the 'Risk Management & Compliance Conference' as a keynote speaker on Monday
The International Longshoremen’s Association, which represents 45,000 dockworkers, is pushing for a 77% pay increase
Labor market conditions also continued to improve in the first half of this year, as the unemployment rate fell to 9.6% in June, the lowest in 15 years.
For 2024, the growth rate of the Greek economy is now expected to reach 2.14%, up from the previous estimate of 2.09%.
Former ECB chief urges EU to unleash subsidies and loosen rules to compete with U.S. and China
The eurozone’s GDP grew by just 0.2% in the second quarter from the first
At present, Moody’s rates Greece at Ba1, one notch below investment grade, with a stable outlook for reassessment.
Central Greece, Western Greece, and the Peloponnese are particularly susceptible to forest fires, while Eastern Macedonia and Thrace are vulnerable due to disparities in per capita GDP. Attica stands out for its extreme vulnerability due to high population density.
More than half of Greek CEOs (54%) express high confidence in their company’s growth potential
Three of the four bankers have already announced dividends for 2023's results, the first such distribution of profits after three successive bailouts
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JP Morgan's economic forecasts for Greece remain steady, projecting growth of 2.2% for the year alongside inflation at 2.8%.
Mitsotakis highlighted the country’s fiscal success
Goldman Sachs sees an upgrade of the Greek stock market
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However, the OECD highlights challenges including the need to enhance productivity and fiscal adjustment due to high debt levels.
However, the report points to a persistent challenge in the form of commercial credit risk, which remains high at 8 out of 10, ranking Greece 104th internationally