The credit rating of Greece has been upgraded by Moody’s agency
After five years of recession and harsh economic climate, Greece has received a small present as a way to encourage them by the financial agency Moody’s.
It is true that this country is specially affected by the crisis since 2008; actually, it represents the lowest GDP rate in Europe.
Inspire of this very difficult economic situation, the financial agency has decided to exit on 2 notches the credit rating of Greece.
This rating was provided to it for several important reasons.
According to Moody’s this decision is included with stable outlooks. That means, Moody’s is not ready for the moment to change the credit rating on long- term.
Then, Moody’s speaks about improvement of the economic outlook.
For example, the financial agency explained that even if the GDP in Greece continued to decline (0, 9%) on one year and in a first quarter, this result is better that what we expected.
It also has pursued on the consumption of the population. According to the figure concerning the purchasing power of citizens, the consumption in the country has improved by 0, 7% in the first quarter of this year.
All of these efforts must be underlined and encouraged because since 4 years, this one has not been going on.
However, we think that it is also important to speak about the reason why the rating of Greece remains in the CAA category. The main reason is due to the level of the political instability.
We should not forget that the unemployment rating of the country has achieved 27% of the active population. Therefore, if today, the country reveals signs of progress on every aspect, it is very normal that it receive encouragement by the financial agencies.
Étudiante en M2 Commerce électronique à l’Université de Strasbourg. J’aime découvrir de nouvelles choses et diversifier mon horizon.