Greece will get investment grade after elections, says central banker

Stournaras. The Bank of Greece sees growth at 6% this year, declining in 2023 to 2.8%, Governor Yannis Stournaras, said on Monday at The Economist conference. He explained that the Greek economy has outperformed the EU as a result of tourism, the Recovery and Resilience Fund inflows and the phenomenon of suppressed demand.

The Greek economy will be upgraded by credit rating agencies to investment-grade level following the national elections on June 25, Bank of Greece Governor Yannis Stournaras asserted on Monday.

Speaking at a conference organized in Athens by The Economist and the British Hellenic Chamber of Commerce on "The Global Economy and Financial Services Gala Dinner: Maneuvering through the current turmoil," Stournaras expressed optimism on the de-escalation of public debt and on the economy's growth trajectory. If the Greek economy is threatened by something, that is overheating rather than recession, he told a panel. He added that this year the GDP would increase by about 2.3%, surpassing by a great margin growth rates of the eurozone in its total. 

Among other things, Stournaras mentioned that the interest rates could drop gradually, in tandem with meeting targets after the...

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