Government debt

State Department report highlights Greece’s positive prospects

Greece has rebounded since the 2009-2018 financial crisis that saw real GDP decline by 25 percent. Modest growth began to return in 2019 and unemployment dropped from its crisis peak of 35 percent in 2013 to 12 percent in 2022, the State Department said in the 2023 Investment Climate Statements.

Bulgaria is in the Top 25 Countries with the Biggest Debt Slaves

With inflation driving up costs, global debts are nearing record highs at $305 trillion - around $45 trillion higher than pre-pandemic levels. Moreover, a worldwide recession has been warned for 2023 at the World Economic Forum earlier this year in the face of rising debt vulnerabilities.

Mitsotakis vows to repay bailout loans early

Prime Minister Kyriakos Mitsotakis has pledged to repay some of Greece's bailout loans ahead of schedule.

In an interview with Bloomberg, he said he was keen to a make a "commitment to investors" at the start of his second term in office.

"The first goal, and I think it's a very tangible goal, is to get to investment grade before the end of the year," he said.