Scope raises its forecast for growth in Greece to 4.9% in 2022

Growth of 4.9% for 2022 and 2.1% for 2023 is seen by the credit rating agency Scope Ratings for the Greek economy, revising upwards its previous estimates to 3.4% for 2022 and 2.3% for 2023 announced in April, while confirming our country’s long-term BB+/Stable rating.

As Scope states in its comment, its assessment is based on multiple advantages of the Greek economy:

First of all the strong European institutional support it has enjoyed since the Covid-19 crisis, in the form of supportive emergency monetary and fiscal policy interventions.

These interventions include new asset purchase programs by the ECB and relaxation of the guarantee framework requirements, which have allowed from 2020 the inclusion of Greek government bonds as guarantees for the ECB’s monetary operations alongside the eligibility of Greek bonds under the Pandemic Emergency Bond Purchase Program (PEPP).