Greece Business News

Greece economy will grow by 2.2% in 2023

july 2023
Τhe Greek the Parliament Budget Office released report expected that greece economy will grow by 2.2% this year.

Greece Credit Rating

March 2019
The credit rating agency Moody's upgraded on Mach 1, 2019 Greece's credit rating by two notches from B1 to B3 with a stable outlook, compared to the previous stable outlook .The upgrade reflects the signs of the economic recovery in Greece.

Greece EU Loan

June 2017
The EU finance ministers and the IMF agreed in Luxembourg on June 15, 2017 to grant 8.5 billion euros in order to enable Greece to repay its loan of 7 billion euros due in next July.
The loan is part of the original 86 billion euros bailout parcel agreed two years ago.

Greece IMF Debt

May 2015
The Greek interior minister announced on May 24 that Greece does not have the funds to repay its debt to the IMF.
According to the loan agreement Greece has to repay in June four installments totaling 1.6 billion euros.

Greece Credit Rating Downgrade

March 2015
The credit rating agency Fitch downgraded on March 27,2015 Greece's credit rating from previous B down to CCC.
Fitch's report was published on an earlier date than the expected report which was due later on May 15.
In addition Fitch lowered the Greek growth forecast for 2015 from previous 1.5% to 0.5%.

Greece Credit Rating Upgrade

December 2012
The credit rating agency Standard & Poor's upgraded on December 19, 2012 Greece credit rating to B- with a stable outlook compared to the previous selective default outlook.
The upgrade reflects the determination of the eurozone members to keep Greece as a member of the eurozone.
Earlier the eurozone members and the IMF approved a 49.1 billion euro aid to be granted to Greece by the end of March.

Greece Consumer Price Index

May 2012
According to data released by the Greek statistical office on May 9, 2012 the Greek consumer price index, CPI, increased in April 2012 by 1.9% compared to April 2011 and by 0.8% compared to March 2012.
The CPI for the twelve months ending in April 2012 increased by 2.5% compared to the year ending in April 2011.

Greece's Rating Downgraded by Fitch

January 2011
Fitch credit rating agency downgraded on January 14 the Greek sovereign debt to junk, from BBB- to BB+.
Fitch follows the two other global credit rating agencies who have already downgraded Greece's sovereign debt to junk too.
The downgrade is in spite of the significant progress made by Greece in narrowing the budget deficit in 2010 by 36.5% ,well above the preliminary 33.5% forecast.

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