The largest public debt reduction within the Eurozone is expected to be recorded in Greece, according to a recent Moody's report. In its lately released report for the prospects in the Eurozone countries, the credit agency unveiled that the Greek GDP is expected to grow at a 4,3% rate next year.
"Sound economic growth and the reduction of primary deficits, as support measures will be withdrawn due to the pandemic, will reduce the median public debt in the Eurozone by 1,2 p.m. in 2022. Some countries with high debt, such as Greece (-10,1 a.m.), Cyprus (-6,8 a.m.) and Portugal (-5,9 a.m.) will record the biggest reductions, but their debt will remain above 100% of GDP despite this leverage ", the credit rating agency notes.
The report predicts that Greece's debt will be reduced to 191% of GDP next year and the growth of its economy will contribute to this reduction.
