GREECE ECONOMIC OUTLOOK 2022


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ANDREA COSTANZO, ASSISTANT VP, GLOBAL FINANCIAL INSTITUTIONS, DBRS MORNINGSTAR

Notwithstanding the significant progress achieved recently, the asset quality of the major Greek banks continues to be relatively weak when compared to the European average.

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ALEX MUSCATELLI, FITCH RATINGS DIRECTOR, SOVEREIGN GROUP

We expect that the Greek economy will expand by 6.0% in 2021, and there may be some upside to that forecast as annual GDP growth in real terms was 7.2% in the first half of the year.


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NONDAS NICOLAIDES, VP, SENIOR CREDIT OFFICER, MOODY’S

Moody’s currently has a positive rating outlook for the four largest systemic Greek banks, in expectation of further improvements in their asset quality and underlying solvency.

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STEFFEN DYCK, VP, SENIOR CREDIT OFFICER, MOODY’S

We’ve seen a stronger-than-expected economic rebound throughout 2021, and think that the Greek economy will grow by around 6% to 6.5% in 2021 and about 4% to 4.5% in 2022.

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GOKSENIN KARAGOZ, DIRECTOR, S&P GLOBAL RATINGS

Despite raising our sovereign ratings on Greece in April 2021, we continue to view the financial system as an outlier in the eurozone.


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MARKO MRSNIK, SENIOR DIRECTOR OF SOVEREIGN RATINGS, S&P GLOBAL RATINGS

We currently expect a strong rebound of 7.2% in 2021 and about 5% and 4.4.% respectively in 2022 and 2023. Over the next three years, we expect Greece’s economic growth will surpass the eurozone average, including in real GDP per capita terms.

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SPYRIDOULA TZIMA, ASSISTANT VICE PRESIDENT, GLOBAL SOVEREIGN RATINGS, DBRS MORNINGSTAR

Looking ahead for Greece, the Recovery and Resilience Facility and the Multiannual Financial Framework will be a main driver of growth.