Scopes Ratings: Greek economy to grow by 1.3% in 2023; 2% in 2024

Scope Ratings on Wednesday announced forecasts for Greek economic growth, citing an increase of 1.3 percent for 2023, 2 percent for 2024 and an average of 1.4 percent for the 2025-2027 period.

The German ratings firm recently filed a request with the ECB to join DBRS, S&P, Moody’s and Fitch as accepted External Credit Assessment Institutions (ECAI).

Just as importantly, Scope maintains a positive outlook for the Greek economy, assessing the country as one upgrade away from “investment grade”, and with the possibility of reaching the coveted rating in the next 18 months given at 33 percent.

Even if Scopes’ forecasts and ratings are still not taken into consideration by the Euro-system, an “investment grade” upgrade would sway the investment outlook for the country upwards.

Following what by all accounts will be twin general elections in Greece this spring, and with the economy moving along forecasted lines, then upgrades by the “big four” in the second half of 2023.