Moody’s Investors Service on Thursday reminded that Greece’s credit profile remains constrained by an elevated debt burden, while also pointing to only “moderate” growth prospects and a weak banking system, naftemporiki.gr reports.
In its annual report, Moody’s echoed widely circulated analyses citing the newly elected conservative government’s pledges for boosting investments and cutting tax rates, pointing out that implementation of such a policy could, indeed, raise Greece’s growth prospects.
“Continued implementation of the reforms agreed with the euro area creditors, including a prudent fiscal stance, will be needed to maintain investor confidence in Greece”, Kathrin Muehlbronner, a Moody’s senior VP and the report’s author, cited, adding: “While we expect the government’s debt burden to decline in the coming years, it will remain very high and Greece may need further debt relief in the medium term.”
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