EY: Investment grade to bring new FDIs to Greece

Greece achieved the best historical performance in terms of the number of foreign direct investments in 2022, according to the "EY Attractiveness Survey Greece 2023". The fifth edition of the attractiveness survey of the country as an investment destination, was carried out by FT Longitude on behalf of EY Greece, between July 3 and July 26, 2023.

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At the same time, the fact that Greece has regained an investment grade rating is forecast to bring a new significant increase in foreign direct investment in the country. As Giorgos Papadimitriou, managing director of EY Greece, pointed out to the Athens-Macedonian News Agency (ANA-MPA), "the recovery of an investment grade rating, in principle, has a great symbolic and psychological significance, as it confirms Greece's return to 'normality'', after a turbulent multi-year period."

As such, it is expected to have a positive impact on the country's ability to attract foreign direct investments (FDI), as it will significantly strengthen the confidence of the international investment community, by drastically reducing sovereign risk, he added.

At the same time, according to Papadimitriou, "the reduction in borrowing costs, for the State, banks and businesses, is expected to strengthen credit expansion, indirectly contributing to the increase in FDI. However, as we also noted in our research, EY Attractiveness Survey Greece 2023, in order to cover the investment gap created in the last 20 years, the very good performances recorded by Greece in recent years should continue and the pace should intensify further, which will require systematic work on all fronts and persistence in reforms."