Greece's Economic Rebound: Moody's Upgrade Signals Recovery

Moody's has upgraded Greece's credit rating to Baa3, marking a significant step in its economic recovery after a severe debt crisis. The upgrade reflects improvements in public finances and governmental policies. Greece's national debt, which peaked in 2020, is steadily declining, boosting investor confidence.

On Saturday, Greece celebrated a significant milestone in its economic recovery as Moody's upgraded the country's credit rating to Baa3, lifting its investment status out of the 'junk' category.

The finance minister, Kostis Hatzidakis, hailed this as a major achievement not just for the government but for all Greeks, symbolizing a return to European normality.

The upgrade comes amid ongoing challenges, with the government facing criticism over its handling of a past rail disaster. However, the improved fiscal outlook and Moody's confidence in Greece's financial trajectory reflect positive strides in its economic stability.

(With inputs from agencies.)