Greece plans to repay its first bailout loans by 2031 — ten years ahead of schedule — Finance Minister Kyriakos Pierrakakis has confirmed, citing strong economic performance and sustained budget surpluses.
“[Our debt burden] should be completely behind us by 2031,” Pierrakakis told Bloomberg, adding that fiscal discipline is now “a regime.”
The country still owes €31.6 billion from the €52.9 billion Greek Loan Facility received in 2010. Early repayment is expected to ease debt pressures before major repayments begin in 2033.
Public debt dropped to 153.6% of GDP in 2024 and is set to fall below 150% this year. Greece was also one of only six EU countries to post a budget surplus in 2024, largely due to anti-tax evasion efforts.
“We don’t plan to pass the bill to the next generation,” Pierrakakis said, projecting a 3.2% primary surplus for 2025.
Source: Bloomberg
