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Low-productivity economy a legacy of adjustment without transformation
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BoG cautiously optimistic on economy and banking sector
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S&P leaves Greece's 'BBB' rating unchanged, hints at slower pace of upgrades
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Housing costs, food prices set limits to impact of tax cuts
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Moody's keeps rating unchanged at 'Baa3' - outlook stable
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Underspend and taxes push primary balance up to Aug 3.77 bln above target
S&P ups outlook to positive, leaves rating at 'BBB-'
S&P published the latest credit rating review for Greece, where the rating was left unchanged at ‘BBB-‘, while the outlook was upgraded from stable to positive. S&P had granted the investment grade to GGBs in October last year, followed by Fitch in December.
The positive outlook reflects the expectation that the Greek authorities will continue on the tight fiscal framework that will lead to the declining debt-to-GDP ratio, and the growth outlook will continue to outperform eurozone peers.
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