Scope affirmed Greece’s credit rating at BBB and revised the outlook to positive from stable
Nov. 10, 2025
GREECE
Macro/Political:
- Scope affirmed Greece’s credit rating at BBB and revised the outlook to positive from stable. According to the agency’s announcement, the outlook revision reflects the Greek economy’s increased resilience to external shocks. The economy has demonstrated steady growth in recent years and is expected to expand by about 2% in 2025, outperforming most euro area peers. Furthermore, strong debt dynamics are supported by prudent fiscal management. Greece’s public finances continue to exceed budgetary targets, with a general government surplus of around 0.6% of GDP and a primary surplus of approximately 3.6% projected for 2025.Finally, the debt-to-GDP ratio is projected to decline from 145% in 2025 to 122% by 2030, supported by conservative budgeting, strong revenue performance, and moderate nominal growth.
Source: Scope
- The trade balance in September 2025 presented a deficit of EUR 2,672.9 mn compared to a deficit of EUR 3,092.4mn in September 2024, recording a decrease of 13.6%. The total value of imports amounted to EUR 6,921.4mn (-3.6% y-o-y) while the total value of exports was EUR 4,248.5 mn (+4% y-o-y). The deficit of the trade balance, for the 9-month period from January to September 2025 amounted to EUR 24,414.2mn in comparison with EUR 22,239.0 mn for the corresponding period of the year 2024, recording a decrease of 3.3%.
Source: ELSTAT
CYPRUS
Macro/Political:
- Minister of Finance Makis Keravnos presented the government’s tax reform to the parliamentary finance committee, describing it as a step toward greater fairness, competitiveness, and fiscal sustainability. He urged cooperation without petty politics in order to modernize a system that has remained unchanged for more than two decades. Furthermore, Mr. Keravnos said on Friday that he is open to raising the family income ceiling for tax deductions to EUR 90,000 from the proposed EUR 80,000, noting that the additional cost would not be prohibitive.
Source: Kathimerini
