Greece’s 2025 GDP growth at 2.1% in volume terms

Macro/Political:

On Wednesday (21/10), Greece will auction 26 Weeks T-Bills with maturity April 23^rd, 2027. The amount to be auctioned is EUR 400mn.
Source: PDMA

According to ELSTAT’s second estimate, Greece’s GDP in volume terms increased by 2.1% in 2025 compared with 2024.
Source: ELSTAT
US Secretary of State Marco Rubio said Washington would seek a new ambassador to Greece who has the confidence of President Trump, stressing that Kimberly Guilfoyle’s resignation would not signal a weakening of bilateral ties. Furthermore, in an interview conducted days after Guilfoyle’s departure, Rubio described Greece as a key US ally whose role in energy security, regional stability and NATO was becoming increasingly important. Rubio added that Greece could potentially become a major regional energy hub, citing support for energy exploration and its strategic location linking Europe, Africa and the Middle East. Greece’s position gives it an advantage not only in producing energy but also in transporting it to markets across the region.
Source: Kathimerini

Markets:

GEK TERNA announced that, following the establishment of its EMTN Programme, Moody’s and S&P have assigned investment-grade ratings to the programme, as well as to any future bonds issued under it. S&P assigned a rating of BBB- to the EMTN Programme, while Moody’s assigned ratings of Baa3/P-3.
Source: Euronext Athens

Macro/Political:

Former Minister of Energy George Papanastasiou said in an interview that he expects the total cost of the GSI to increase, noting that delays in the implementation of the project and rising material prices are creating additional financial burdens that could be passed on to electricity consumers. Papanastasiou also referred to the geopolitical challenges arising from Turkish claims, following the issuance of a Turkish NAVTEX, as well as outstanding issues concerning financing, investor participation and payments. More specifically, Papanastasiou noted that, based on financial calculations carried out for a total project cost of EUR 1.9bn and a repayment period of 35 years, the additional cost for Cypriot consumers was estimated at EUR 0.012 per kWh (1.2 cents per kWh).
Source: Stock Watch