Greece’s public debt is set to fall below 120% of GDP before 2030, according to Finance Minister Kyriakos Pierrakakis.
The statement signals growing optimism about the country’s fiscal outlook ahead of a Fitch Ratings review scheduled for later today.
Speaking to Bloomberg Television, Mr. Pierrakakis said the government plans to proceed with the early repayment of bilateral loans from Greece’s 2010 bailout program, a move expected to further enhance Greece’s credit profile.
Markets anticipate a positive rating action, which would mark another milestone in Greece’s return to financial normalcy.
The minister underscored recent European decisions on energy taxation and customs policy, emphasizing the need for swift, coordinated action among EU members.
“The number one policy we must deliver as Europeans is a Union of Savings and Investments,” Mr. Pierrakakis said, urging Europe to accelerate mechanisms that direct capital toward long-term growth.
Greece has seen a sharp decline in its debt ratio in recent years, supported by solid economic growth, high primary surpluses, and early repayments of IMF loans.
Dropping below 120% of GDP—a threshold not reached since before the 2008 financial crisis—would bolster investor confidence as Athens pushes reforms and investment initiatives.
The Fitch decision will be closely monitored by markets and the government, which hopes continued upgrades will lower borrowing costs and cement Greece’s status as one of Europe’s fastest-recovering economies.