Greece on Saturday welcomed its foreign debt rating upgrade by Standard and Poor’s as proof of further growth after a nearly decade-long debt crisis.
Emerging from its third straight bailout last year, Greece has a public debt of more than 180 percent of gross domestic product and remains under strict supervision by its creditors.
S&P citing an improved budget outlook and solid growth prospects raised its grade for Greece’s foreign debt a notch to BB- on Friday.
Athens expects its economy to grow by 2.8 percent in 2020 while respecting fiscal pledges to the country’s creditors, according to a draft budget released early this month.
Via AFP/Arab News /S&P
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