Key Points
- DBRS will start the assessment on September 4, while Scope and Moody's will do so on September 18, S&P on October 23, and Fitch on November 6.
- In January–July, the primary surplus of 5,77 billion euros exceeded the target.
- Greece aims to reduce the debt-to-GDP ratio to 138,2% by the end of 2026 through an early debt repayment of 12,8 billion euros.
- The closure of the Strait of Hormuz pushed Brent crude to about 90 dollars, while European natural gas prices rose to 68 euros/MWh.
By the Numbers
Greece is preparing for the second economic assessment round for 2026. DBRS will start on September 4, followed by Scope Ratings and Moody's on September 18, S&P on October 23, and Fitch on November 6. The assessments will be based on the primary surplus, early debt repayments, and the economic resilience shown against Middle East tensions.
Despite rising energy prices, Greece's economy showed resilience. The closure of the Strait of Hormuz pushed Brent crude to about 90 dollars, while European natural gas prices rose to 68 euros/MWh. Nevertheless, with first-quarter GDP growing at an annual rate of 2%, the primary surplus in January–July reached 5,77 billion euros, above target.
The government aims to reduce the debt-to-GDP ratio to 138,2% by the end of 2026 through an early debt repayment of 12,8 billion euros. If this target is met, Greece will fall behind Italy as the most indebted country in the eurozone. Among rating agencies, Scope is more optimistic, Moody's more cautious, while DBRS and Fitch emphasize that financial discipline must continue and geopolitical risks need to be closely monitored.
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Frequently Asked Questions
- When will the second assessment round for Greece begin and which institutions will conduct it?
- DBRS will start on September 4, followed by Scope and Moody's on September 18, S&P on October 23, and Fitch on November 6.
- How do the primary surplus and early debt repayments affect Greece's debt profile?
- The primary surplus of 5,77 billion euros and the early debt repayment of 12,8 billion euros aim to reduce the debt-to-GDP ratio to 138,2% by the end of 2026.
- What is the impact of rising energy prices on the Greek economy?
- The closure of the Strait of Hormuz pushed Brent crude to about 90 dollars and European natural gas to 68 euros/MWh, but Greece's economy remained resilient with 2% growth in the first quarter.
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