Fin.Min. on S&P upgrade: Outcome and culmination of prudent fiscal policy

“The rating “S&P Global Ratings” agency today proceeded to upgrade the creditworthiness of Greece, by one notch. Thus, it becomes the third rating house, and the second of the ones eligible by the European Central Bank, which places the country just a “step” before the investment level,” noted Minister of Finance, Christos Staikouras.

“This is the 9th – in a row – upgrade of the Greek economy in the last two and a half years, despite the successive and repeated crises. The above positive development is a result – and, at the same time, a culmination – of prudent fiscal policy, prudent bond issuing strategy, high cash flow, the implementation of structural changes, the improvement of the quality of the country’s wealth through increased investment and exports, the reduction of “red” loans in the portfolios of banks, the reduction of unemployment, the improvement of the competitiveness of the economy.

However, we do not ignore the great challenges, the risks and the new data that are shaping the recent international developments. That is why we continue with responsibility and prudence to support households and businesses to the best of our ability, while remaining faithful to our central goal of achieving strong and sustainable growth, creating many good jobs and further enhancing social cohesion. ” , Mr. Staikouras concluded.