GREECE
Macro/Political:
- DBRS’ credit rating review of the Greek economy is scheduled to be released today. The Agency currently holds Greece at BBB, stable trend.
- Reuters, citing two government sources, reported that Greece plans to raise between EUR 8–9bn from bond markets in 2026 and will repay additional bailout loans ahead of schedule in December, as the economy continues to recover from last decade’s debt crisis. “ We will borrow EUR 8–9bn from the markets next year, the same as this year,” one official said. A second official confirmed that the country will borrow up to EUR 9bn in 2026. “ We want to reduce our debt faster, and we will use part of our cash reserves, which currently stand at about EUR 40bn,” the official added.
- Greek PM is expected to announce more than EUR 1.5bn in tax breaks and other handouts this weekend, officials said, as he seeks to halt a slide in popularity caused by a protracted cost of living crisis and corruption claims. The tax deductions that Mr. Mitsotakis will unveil during his annual economic policy speech will target middle-income earners and families with children. Pensioners will also receive handouts, the three government officials said.
Source: Reuters
Markets:
- According to local press, GEK TERNA is expected to proceed with a bond issue to finance its new investment plan which costs more than EUR 10bn.
Source: Mikrometoxos
