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  • S&P report on Eurozone says Greek election critical as regards growth prospects

    It notes that Greece’s exit from the bailout programmes, before which creditors approved a cash buffer and an extensions on the servicing of loans, directly impacts on the Eurozone’s credit rating.

    Standard & Poor’s is projecting a 2.4 percent growth rate for the Greek economy over the next three years in its report Eurozone Sovereign Rating Trends 2019.

    The report said that growth may be greater if there is improvement in the business environment that would attract greater foreign investment.

    The report underlines that the positive outlook for Greece is based in part on the predictability of the country’s economic policy and of economic prospects.

    Upcoming elections key

    The report says that upcoming election will be critical in bolstering growth.

    It notes that Greece’s exit from the bailout programmes in August, 2018, before which creditors approved a cash buffer of liquidity and extensions on the servicing of loans, directly impacts on the Eurozone’s credit rating.

    The report notes that while the government produced primary surpluses in the 2016-2018 period, policies relating to growth will be key in determining the long-term viability of Greece’s debt.

    S&P calls for specific measures to improve the investment environment so as to attract more foreign investment successfully.

    It notes that the next election will be an important gauge of authorities’ ability to improve the country’s growth prospects.

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