May 30, 2024

Important decade for Greek debt

Important decade for Greek debt

The European Commission considers the period between 2025 and 2034 to be high-risk and critical for the sustainability of the Greek debt, after which, if it is overcome, in the long term and until 2070, Greece will be a low-risk country on this front.

These are the conclusions of the Debt Monitor 2023 report and the debt sustainability analysis prepared by the Commission for the countries of the European Union, which also takes into account the cost of the aging population.

The Commission estimates that in the short term – i.e. this year – the risks of fiscal sustainability in all EU countries are low. This positive result can be largely attributed to the absence of major risks to macroeconomic stability in the short term. The debt ratio, it says, is projected to decline slightly until 2026, after which a gradual increase in debt-aging costs and interest spending will reverse the trend.

Greece and eight other countries – Belgium, Spain, France, Italy, Portugal, Romania, Slovakia and Finland – are assessed by the Commission as facing high fiscal sustainability risks in the medium term – i.e. until 2034 – for various reasons.

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