The EU Commission positively assessed Greece’s sixth payment request worth EUR 2.44bn

Macro/Political:

• The EU Commission positively assessed Greece’s sixth payment request worth EUR 2.44bn, which will bring the total funds disbursed to EUR 23.45bn. Greece successfully met 32 milestones and 7 targets, with flagship measures including the enhancement of renewable energy infrastructure, improvements in healthcare with a national digital health record database, and upgrades in education through interactive learning systems in classrooms. The payment corresponds to 65% of the total funds allocated to Greece under the RRF, with 48% of the milestones and targets fulfilled.
  Source: European Commission
  

• The IMF, in its World Economic Outlook, expects Greece’s growth to accelerate by 2% in both 2025 and 2026. Furthermore, inflation is projected to stand at 3.1% in 2025 and 2.5% in 2026. Unemployment is expected to be 9% in 2025 and decline to 8.4% by the end of 2026. The current account deficit is projected at 5.7% of GDP in 2025 and is expected to decrease further to 5.3% of GDP in 2026.
  Source: IMF
  

Markets:

• Greek Public Power Corp plans to raise EUR 775 mn through the issuance of a 5NC2 green bond. The proceeds from the offering will be used to redeem in full its EUR 775 mn of 4.375% sustainability linked senior notes due in 2026 and pay fees and expenses related to the offering. Furthermore, PPC plans to allocate an amount equivalent to the net proceeds of the offering to finance or refinance eligible green projects.
  Source: ATHEX

Macro/Political:

• The IMF in its World Economic Outlook expects Cyprus’s economy to grow by 2.9% in 2025 and 2.8% 2026. Furthermore, the IMF projects inflation to stand at 0.7% in 2025 and 1.3% for 2026. Unemployment is expected to reach 4.9% in 2025 and 4.7% at the end of 2026. Current Account balance deficit is estimated to be 8.5% of GDP in 2025, and 9.1% of GDP in 2026.
  Source: IMF