Patel: Greece's return to investment-grade status could bring about shared prosperity.
The investment rating is good news, as it affects the reduction of borrowing costs for households, businesses, and the country, said Alexis Patelis, chief economic advisor to Prime Minister Kyriakos Mitsotakis, in an interview with "Naftemporiki" and Michalis Psilos.
Patelis highlighted the latest update from S&P and Eurostat data, which show a very positive signal in terms of primary surplus. The Prime Minister's Economic Advisor also emphasized that foreign direct investment in all sectors is higher on average over the last three years. "Our industry is one of the great successes of recent years," he added.
Alexis Patelis also noted that "a legislative initiative to halve bank fees for amounts up to 10 euros will be announced soon." Finally, he explained that the scenarios suggesting Prime Minister Kyriakos Mitsotakis would take on a European position in Brussels "belong to the realm of fantasy."
Alexis then revealed that S&P Global Ratings has confirmed Greece's credit rating at the minimum investment grade level (BBB-), but with a positive (previously stable) outlook for Greek debt.
How do you interpret this? He also noted that credit ratings affect borrowing costs, and this helps the country's development.
He was also asked about the increase in real estate prices in Greece due to the "golden visa" and the rise in rental prices because of Airbnb. Patelis noted that the government is looking into the issue.
He also touched on the state of Greek banks, noting that they are in a better position than before. Patelis also said that the settlement of high commissions is a government priority and initiatives on this issue will be announced soon.
He also addressed the issue of rising prices, noting that the government continues to take measures to stabilize them.
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