By Stephen NakrosisS&P Global Ratings on Friday raised its outlook on Greece to positive from stable, while affirming the country's long- and short-term local and foreign currency sovereign credit ratings on Greece at BB+/B. S&P said "Greece's structural reforms and economic resilience, along with EU support, have improved government finances and financial sector stability." The agency also said the outlook reflects its view the country will build on its recent record of implementing structural reforms. S&P also said economic activity in Greece rose 5.9% in real terms last year, "despite the energy shock for Greece and its trading partners." Over the past decade, exports as a percentage of GDP increased an estimated 20 percentage points, S&P said.

Source: Wall Street Journal April 22, 2023 09:34 UTC