Greece’s 2023 Stability Programme highlights the strong improvement in public finances and outlines a substantial further reduction in debt, Fitch Ratings said in a report, adding that even if some of the Programme’s projections proved to be optimistic, they reinforce our view that the debt ratio will continue to fall over the medium term, ANA reports.
In a report, Ftirch noted the Stability Programme submitted to the European Commission in April projects an increase in real GDP this year of 2.3%, down from 5.9% last year but stronger than the 0.8% Fitch forecasts for the eurozone in 2023. It estimates the 2023 headline and primary budget balances at -1.8% and 1.1% of GDP, respectively, from -2.3% and 0.1% in 2022. Continued economic expansion, supported by investment and higher exports, will help sustain primary surpluses, which will reach 2.5% of GDP in 2026, according to the Programme.
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