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Credit rating agency S&P views Greece more positively

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Credit rating agency S&P Global Ratings views Greece more positively. The rating agency has raised the outlook for Greece’s creditworthiness from stable to positive. This means that there could be an increase in Greece’s credit status.

In this outlook, S&P points to the progress Greece is making in reducing the national debt and also the economic growth of the Southern European country. The Greek credit rating at S&P is BBB-.

In October last year, S&P placed a so-called ‘investment grade’ on Greece. This means that Greek government bonds can be interesting for investors again. Greece lost that status in 2010 due to the euro crisis.

Greek Finance Minister Kostis Hatzidakis says S&P’s move is further evidence that economic reforms by Prime Minister Kyriakos Mitsotakis’ government are paying off and that those reforms should continue.

The Greek government expects economic growth of 2.9 percent this year. Last year that was still 2 percent. Greece is doing better than many other European countries.

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