Breaking news

Morningstar DBRS Elevates Greece’s Credit Rating to ‘BBB’ with Stable Outlook

by News Editor

March 10, 2025

DBRS Morningstar has raised Greece’s credit rating to ‘BBB’ from ‘BBB low,’ citing improved banking stability and the country’s ongoing efforts to reduce its general government debt. This upgrade marks another milestone for Greece, which saw its investment grade status reinstated by DBRS in 2023, with a shift in the outlook from positive to stable.

The credit agency highlighted that Greece’s banking sector, once burdened by legacy risks, has shown considerable recovery, contributing to the country’s positive fiscal performance. Debt reduction has been a key driver of this progress. Since 2020, Greece’s debt, the highest in the eurozone, has been slashed by more than 40 percentage points, now standing at 154% of GDP in 2024, with projections for further declines.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Looking ahead, Greece is expecting a 2.3% growth in economic output for 2025—more than double the eurozone’s forecasted average. The country is also set to achieve a primary budget surplus of 2.4% of GDP, driven by strong tourism revenues and increased investments. As a result, Greece’s debt-to-GDP ratio is expected to fall below 140% by 2027, marking a significant improvement.

This credit rating upgrade is part of a broader trend of positive assessments from other major rating agencies, including S&P Global and Fitch, following a period of 13 years in the junk category. However, Moody’s remains cautious, still rating Greece just below investment grade.

Greek banks, once reeling from the debt crisis and nationalization in 2009, are now on a steady recovery path, posting profits for the first time in years. The European Central Bank gave the green light for dividend payments to resume in 2024, marking a key milestone in the country’s financial recovery.

The Future Forbes Realty Global Properties

Call for Reform: Cyprus Faces New Challenges with Emerging Tobacco Products

by News Editor

May 31, 2025

In the face of a burgeoning variety of tobacco products, existing smoking laws in Cyprus are struggling to keep pace, as highlighted by Christos Minas, the president of the Cyprus National Addictions Authority (AAEK). On World No-Tobacco Day, there was a push for legislative reforms to comprehensively cover all tobacco forms, including non-nicotine alternatives.

Addressing Rising Trends with Effective Policies

Minas emphasized the surge in popularity of e-cigarettes and flavored products, particularly among the youth. The proposed legal updates aim to enhance enforcement efficiency against these emerging trends.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

In collaboration with the World Health Organization’s (WHO) framework, the AAEK has established the first set of national guidelines for smoking cessation in Cyprus, crafting prevention and treatment strategies based on robust scientific evidence.

Educating Youth and Public Awareness Initiatives

Efforts are underway to raise awareness, with informative materials distributed to secondary schools across Cyprus. A public event in Nicosia highlighted the state’s ongoing commitment, providing carbon monoxide testing and expert advice on new tobacco products.

Recent data from the Cyprus general population survey 2023 indicates that 38% of smokers have used e-cigarettes recently, and the smoking initiation age remains at 18.

A Glimpse into Youth Smoking Patterns

According to the latest European school survey, 14% of Cypriot students aged 15-16 reported smoking traditional cigarettes last month. Although this rate is declining, Cyprus still ranks high in Europe for e-cigarette and hookah use among students.

The concern is global, with WHO reports showing over 37 million children aged 13-15 engage in tobacco use, driven by aggressive marketing in loosely regulated environments.

The urgency for reform is clear: before these trends solidify, proactive measures are necessary to protect future generations from potentially hazardous habits.