Greece may repay first bailout loans by 2029 due to strong growth

Greece is positioned to significantly accelerate its debt repayment schedule, with officials indicating that the €53 billion in loans from its first bailout programme could be fully repaid by 2029 or 2030, two years ahead of the original 2031 target. This progress is driven by strong fiscal performance, economic growth of approximately 2%, and cash reserves of around €32 billion. The country's debt-to-GDP ratio, which stood at 145.9% last year, is expected to fall below Italy's level of 136.8% within the current year.

In addition to debt management, Greece is strengthening its role as an energy hub through infrastructure projects in Northern Greece, including natural gas and electricity interconnections. Meanwhile, the European Commission has clarified that the Greek government bears primary responsibility for delays in distributing subsidies to olive oil producers, despite the economic importance of the sector.

The Economic Chamber of Greece has also submitted ten proposals to bolster the economy, focusing on income enhancement, tax reform, and reducing social security contributions to support businesses and citizens.