Greece plans to raise €8 to €9 billion from the markets in 2026 and at the same time proceed to early repayment of loans of €5.3 billion from the first memorandum of 2010 next December, according to two government sources cited by Reuters.
The development marks the country's gradual exit from the 2009-2018 fiscal crisis, when it needed about €280 billion in support loans to avoid exiting the eurozone.
The goal is to reduce the debt
"We want to reduce our debt faster and we will use some of the cash," a government official said. Public debt has declined by 50 percentage points since 2020, reaching 153.6% of GDP in 2024, with a further de-escalation in 2025.
The planning of the financial staff provides for the full repayment of the loans of the first memorandum by 2031, a decade earlier than the initial planning.
Strong growth
The Greek economy, with tourism as its main lever, is approaching pre-crisis levels. Growth is forecast at 2.3% in 2025 from 2.2% in 2024, more than double the eurozone average. The primary surplus is estimated at 2.4% of GDP.
Greece's borrowing costs remain lower than Italy's, following the recovery of investment grade in 2023. Cash reserves amount to around €40 billion, sufficient to cover financing needs for at least three years.
Capital.gr
