Ecofin has approved the medium-term fiscal-structural plans of 21 EU member states, including Greece, as part of the bloc’s new economic governance framework. Greece’s plan for 2025-2028 targets a steady reduction in public debt, from 153.7% of GDP in 2024 to 133.4% by 2028, while maintaining controlled expenditure growth. The initiative aims to ensure debt sustainability and promote inclusive economic growth across the EU.
Tag: Public Debt Reduction
Fitch Ratings has upgraded Cyprus’s credit rating to A-, reflecting a substantial decrease in the nation’s public debt-to-GDP ratio and strong fiscal discipline. The improvement shows Cyprus’s commitment to prudent economic policies and sustainable financial management.
Greece has completed the re-privatisation of its banking sector by selling a 10% stake in the National Bank of Greece, raising €690 million to help reduce public debt. The sale, managed by the Hellenic Financial Stability Fund (HFSF), saw high investor interest, with oversubscription 12 times over. This marks the final stage of Greece’s effort to divest its stakes in major banks, signaling ongoing economic recovery after the financial crisis.