Rating agency Standard and Poor’s upgraded on Friday evening Greece’s sovereign credit rating by one notch, from B+ to BB-.
The agency noted that the decision of the government in August to lift the remaining capital controls was implemented without any adverse impacts.
”The positive outlook signifies that we could raise our ratings on Greece within the next 12 months if the government continues implementing structural reforms that strengthen the country’s economic growth potential and public finance sustainability,” the agency noted.
S&P also said that it projects ”economic growth in Greece will average 2.5% in 2019-2022, fueled mainly by a recovery in domestic demand”.
Commenting on the developments, Greek PM Kyriakos Mitsotakis said that this decision ”proves that our economy is growing ever stronger. Our reform agenda aims to attract investment, create jobs, accelerate growth and further restore trust in our economy.”
”We are fully committed to it,” the PM concluded.
Greece’s sovereign debt rating upgrade by Standard & Poor’s proves that our economy is growing ever stronger. Our reform agenda aims to attract investment, create jobs, accelerate growth and further restore trust in our economy. And we are fully committed to it.
— Prime Minister GR (@PrimeministerGR) October 25, 2019