Greece Set to Shed Euro Zone's Debt Crown by Year's End

Greece is expected to lose its moniker as the euro zone's most indebted nation by the close of 2023. Sources indicated that the country's public debt is anticipated to slide to roughly 137% of GDP, according to information and data from Italy's budget plan.

Greece's debt has declined notably, from a peak of 209.4% in 2020 to 145.9% last year, and is projected to drop further. Conversely, Italy's debt indicates a gradual increase, forecasting a 138.6% rise in 2026, as per the Treasury's plans.

The new estimates will be included in Greece's forthcoming multi-year fiscal plan submitted to the European Commission. This marks a turnaround for Greece, emerging from a crippling financial crisis and moving to repay bailout loans ahead of schedule, as its economy grows steadily.

(With inputs from agencies.)