At a time when international markets are under strong pressure, the Greek economy receives a new strong signal of trust from international rating agencies.
More specifically, Moody’s tonight upgraded the prospects of the Greek economy from stable to positive, maintaining the credit assessment at Baa3 level. Moody’s decision is Greece’s third change of outlook to positive within about a month, after R&I on August 17 and DBRS on September 4.
For her part, a little earlier, Scope Ratings upgraded Greece's credit rating to BBB+ by BBB, with stable prospects, highlighting the rapid deescalation of public debt, strong fiscal performance and greater resilience of the Greek economy.
The two decisions, which come to be added to the recent positive moves of other houses, focus on the significant deescalation of public debt, strong fiscal performance, resilience of the economy and progress of reforms.
Particular attention is given to the strategy of early debt repayments, the strengthening of investments and the improvement of tax administration, elements that - according to the houses - gradually change the country's economic profile.
The double upgrade It comes to strengthen Greece's return to a status of increased credibility in international markets, with the government talking about confirming the path of fiscal stability, growth and reforms.
In his statement, Minister of National Economy and Finance Kyriakos Pierrakakis said:
«Greece is now upgraded twice, by two different international rating houses, at a time when international markets are being tested. And this is of enormous value. These decisions recognise that the Greek economy has gained greater resilience and credibility. They confirm strong budgetary performance, growth above the European average, investment growth and reform progress.
But they also highlight a very specific choice of ours. To make use of budgetary progress to reduce public debt more quickly, making early payments. This strategy strengthens Greece's position and makes it more resistant to international turbulence.
Reliability is built with results. Today's decisions, like the return of the Athens Stock Exchange to the developed markets, are important achievements of a course that we must continue. With fiscal consistency, investments and reforms that increase productivity and create better paid jobs and higher incomes for citizens».
Two upgrades on the same day reflect the progress of the Greek economy, fiscal consistency and stable strengthening of the country's position. pic.twitter. com/QMFpSbhkHw
— Kyriakos Pierrakakis (@Pierrakakis) September 18, 2026
For his part, Deputy Minister for Economic Affairs and Finance Nikos Papathanasis stressed that today’s announcements by Moody’s and Scope Ratings are still an international recognition of the strengths and prospects of the Greek economy.
And go on: «Another certification of the correctness of development economic policy with a social mark and financial seriousness that the governments of Kyriakos Mitsotakis follow faithfully. Another vote of confidence in the reform policy being implemented and its measurable effect, while further strengthening the country's own credibility.
Greece, having now established its position within the investment tier, despite the opposite winds that breathe internationally, on the counter-balance of shocks that even traditionally receive strong economies of the rest of Europe, in an environment of political stability, shows remarkable resistance and healthy fundamental sizes. Which in turn allows for the creation of mounds and the continuation of support for households and businesses against the effects of geopolitical uncertainty and energy liquidity.
However, we are not complacent. With full awareness of the difficulties and the work ahead, with the same wisdom and effectiveness, we are speeding up the implementation of the major changes that the place needs. We are making the most of every euro available from the national and European resources we have secured. Contributing, from a position of power, to changes required at EU level.
Our aim remains to further strengthen a dynamic and durable economy, to support entrepreneurship, competitiveness and productivity, to attract even more quality investments, to create even more jobs, to continue to transform the dividend of growth into a social dividend, eventually, to denaturing collective progress into individual prosperity for every Greek woman and every Greek woman.».
The financial staff’s comments on the upgrade by Scope
Scope attaches particular importance to the rapid de-escalation of public debt, which it estimates will decline to about 136% of GDP in 2026, from 146.1% in 2025, with the reduction also supported by further early repayments. The house foresees further deescalation at around 110% of GDP by 2031, while pointing out that the favourable debt structure, the long lasting and low risk of refinancing enhances its viability.
In his report, the same house also points out that Greece's fiscal performance remains very strong. For 2025 it records a general surplus of 1.7% of GDP and a primary surplus of 4.9%, while estimates that the country's budgetary performance will remain among the strongest in the European Union.
Extensive reference is made to improving tax administration through institutional reforms and digitisation, which, according to Scope, has substantially strengthened the collection of public revenue.
Παράλληλα, η Scope διαπιστώνει σημαντική ενίσχυση της ανθεκτικότητας της ελληνικής οικονομίας. Η πραγματική ανάπτυξη διαμορφώθηκε κατά μέσο όρο στο 2,1% την περίοδο 2023-2025, έναντι περίπου 1% στην ΕΕ, ενώ η οικονομική δραστηριότητα στηρίζεται στην εγχώρια ζήτηση, στον τουρισμό, στην άνοδο των επενδύσεων, στην εφαρμογή διαρθρωτικών μεταρρυθμίσεων και στην αξιοποίηση των ευρωπαϊκών πόρων.
