Fitch is optimistic on Greece

Fitch Ratings officials appeared optimistic about Greece's economic outlook ahead of this Friday's credit rating report on the country during an online debate last week on the impact the pandemic has had on the assessments and the sustainability of eurozone member-states' finances.

The agency's analysts stressed that what matters most is not debt levels but debt momentum, and mainly the cost of servicing it, which in Greece as well as the rest of the bloc is low. Fitch also considers the resources of the Next Generation EU fund among Greece's weapons, as long as they are "wisely" utilized, and the constant support of the European Central Bank's emergency bond buying program (PEPP).

Debt momentum, Fitch officials explained, is affected by various factors, such as gross domestic product growth, the primary budget surplus and the level of interest payment as a ratio of...