Greece Aims to Slash Debt to Lowest Since 2009 Within Four Years [BNN Bloomberg (Canada)]
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Source: BNN Bloomberg
In an interview, Kostis Hatzidakis predicted that government borrowings will shrink to “close to 130%” of gross domestic product by the end of 2028, bolstered by an economy that has been outperforming its peers. “This is a really significant reduction,” the minister said, speaking in his office in central Athens. Greece's debt ratio peaked at 207% in 2020 and is already projected by the government to shrink to 152.7% this year. A reduction of the quantum foreseen by Hatzidakis raises the imminent prospect of a smaller pile of borrowings than Italy unless that country's public-finance trajectory changes drastically. Along with shaking off junk status last year, the prospect of Greece no longer standing out as the region's most indebted sovereign would amount to a remarkable turnaround for a country that was once a virtually bankrupt pariah within the euro zone, and almost left the single currency. The new projections will be included in a fiscal plan that will be submitted to
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