Pierrakakis to Reuters: Greece to Repay €6.9 Billion Early in Fresh Debt Reduction Push
Athens accelerates public debt reduction amid global uncertainty, aiming to strengthen investor confidence and reinforce economic credibility
Athens accelerates public debt reduction amid global uncertainty, aiming to strengthen investor confidence and reinforce economic credibility
Greece posts a 4.9% of GDP primary surplus, beating targets by €2.881 billion, while the government unveils targeted support measures and a new economic roadmap for 2026 under strict EU fiscal constraints.
Strong revenue performance and spending discipline give Athens new fiscal room amid global uncertainty
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Despite weaker tax revenues, the state posts surplus thanks to restrained spending and timing adjustments
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The revamped EU framework emphasizes “net primary expenditure,” fiscal commitments, and debt sustainability—reshaping Athens’ policy space.
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With steady 2% growth and a historic debt reduction, Greece is emerging as Europe’s strongest economic success story.
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Finance Ministry data shows robust tax revenue, lower expenditures and early income tax collections boosting fiscal performance beyond expectations
The announcement noted that an amount of 1,993 million euros which refers to the time differentiation of payments from ordinary budget and an amount of 499 million Euros which refers to the time differentiation of investment expenditure, do not affect the General Government outcome in fiscal terms.
The Public Debt Management Agency (PDMA) gave a mandate to Barclays, BNP Paribas, Commerzbank, Eurobank, JP Morgan and Piraeus Bank to proceed with the re-opening of the existing bonds maturing on July 18, 2038 with a coupon of 4.375% and those maturing on June 15, 2053 with a coupon of 4.125%.
The Greek Minister of National Economy and Finance, Kostis Hatzidakis, expressed his satisfaction with Scope's upgrade of the Greek economy.
The budget execution for the period January - October 2024 showed a primary surplus of 13.528 billion euros, compared to a target for a primary result of 12.930 billion euros and a primary surplus of 6,080 billion euros, for the same period in 2023.
In an interview conducted by Kathimerini Cyprus’ Panayiotis Rougalas, Bank of Greece Governor Yannis Stournaras shed light on various aspects of the Cypriot monetary policy and economic landscape.
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According to the minister, "the country is in the midst of two parallel and interconnected digital transformations: the Digital Transformation of the Government and the Digital Transformation of the Economy," Hatzidakis noted stressing the important role of the European resources, both from the NSRF and from the Recovery and Resilience Facility, which in total amount to approximately 3.4 billion euros.