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Chr. Staikouras for S&P upgrade: Outcome and culmination of prudent fiscal policy

“S&P Global Ratings today upgraded Greece’s credit rating by one notch. It thus becomes the third rating agency, and the second of the ones selected by the European Central Bank, which places the country one, just,” step “before the investment stage”, said the Minister of Finance Christos Staikouras for the upgrade of the country’s creditworthiness by the rating agency “S&P Global Ratings”.

“This is the 9th – in a row – upgrade of the Greek economy in the last two and a half years, despite the successive and repeated crises” he pointed out and added: “The above positive development is a result – and, at the same time, culmination – of prudent fiscal policy insightful publishing strategy, high cash resources, the implementation of structural changes, the improvement of the quality of the country’s wealth through the increase of investments and exports, the reduction of “red” loans in the banks’ portfolios, the reduction of unemployment, the improvement of competitiveness of the economy”.

“However, we do not ignore the great challenges, the risks and the new data that are shaping the recent international developments”, added Mr. Staikouras, noting that “for this reason, we continue with responsibility and prudence to support households and businesses in the best to the extent possible, while remaining faithful to our central goal of achieving strong and sustainable growth, creating many good jobs and further strengthening social cohesion. ”

Source: Capital

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