Government Spokesperson Konstantinos Letymbiotis announced immediate financial support for Community Councils affected by wildfires.

Macro/Political: 

• According to a report by the Hellenic Fiscal Council, Greece’s national savings are less than half the European Union average, while households exhibit negative savings. This situation is considered highly unfavorable for investment, prompting the council to recommend a shift in the country’s production model. Specifically, the council highlights that the negative household savings and the significant deficit in the current account balance will be reflected in Greece’s 2026 macroeconomic indicators, as they imply a need for increased external borrowing. It is also important to note that Greece’s national savings amounted to 9.9% of GDP in 2024, compared to the EU average of 24.4%. In 2025, Greece’s national savings are projected to rise to 10.5% of GDP, while the Eurozone average is expected to decline slightly to 24.2%. By 2026, Greece’s national savings are forecast to reach 11.4% of GDP, with the EU average projected to remain stable at 24.2%.
  Source: Naftemporiki print edition (25 July, pg.3)

Markets:

• S&P, in a note to investors, suggested the potential upgrade of the Athens Stock Exchange from emerging market status to developed market status as of September 2026. The credit rating agency noted that the Greek market was significantly affected by the political and economic turmoil during the EU debt crisis. However, since then, Greece, working in collaboration with the EU, the ECB, and the IMF, has made steady financial and economic progress. The improved business climate has boosted exports and attracted foreign investment, while both inflation and unemployment are now at or below their long-term averages. long-term averages.
  Source: Capital.gr