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Fitch rating upgrade seals Greece re-establishing itself as investment grade material
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S&P awards investment grade, bringing arduous cycle for economy to a close
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OECD outlines several areas where reforms could boost growth potential
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PBO draws attention to effects of climate crisis on public finances
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Moody's ups GGB rating by two notches, on par with S&P and Fitch
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Return to investment grade overshadowed by flood destruction
EC expects Greek GDP to drop by 9.7 pct for biggest fall in EU, before strong rebound in 2021
The European Commission released today its Spring Economic Forecasts, the first official set of numbers since the pandemic outbreak, which point to the EU economies experiencing “a recession of historic proportions this year.”
Euro area GDP is seen falling by 7.75 pct in 2020 and grow by 6.25 pct next year. The EU economy is expected contract by 7.5 pct and grow by 6 pct in 2021.
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