Greece is on track to save over 2 billion euros across seven years after the government announced plans to repay 13 bill...

Greece is on track to save over 2 billion euros across seven years after the government announced plans to repay 13 billion euros in debt ahead of schedule before the end of 2026. Sources at the Ministry of National Economy and Finance confirmed the figures, noting that every 1 billion euros in early repayment generates roughly 30 million euros in savings when factoring in current borrowing costs. The early repayment strategy is part of a broader push to bring Greece's debt-to-GDP ratio down to 137% by the end of this year, which would put it below Italy for the first time. From 2019 through 2025, Greece has already made early loan repayments totaling around 36 billion euros, and ministry officials say the trend will continue through 2031, a full decade ahead of the original 2041 schedule. In June, Greece already repaid 6.94 billion euros from a bilateral eurozone loan originally valued at 52.3 billion euros. The ministry says low spreads and the credibility signal sent to rating agencies and international investors make this approach a no-downside play for the Greek economy. German credit rating agency Scope Ratings published a recent report projecting Greece's debt will fall to 107% of GDP by 2031, down from 136% today and 128% expected in 2027. That trajectory would put Greece below not only Italy but also France and Belgium by that year, approaching the eurozone average of 90%. Three major rating reviews are coming next month, with DBRS, Moody's, and Scope all set to assess the Greek economy. Standard and Poor's follows in October and Fitch in November. #Greece #Economy #Debt