“By 2031, Greece’s public debt will have fallen below 110%, having already shrunk by one-third since 2021 — a development that translates into far greater national credibility,” wrote Prime Minister Kyriakos Mitsotakis regarding Greece’s public debt reduction. “This represents one of the most meaningful achievements of the Greek people. It is the optimistic message now being sent by a dynamic economy, offering perspective and hope to all of society. We said it! We’re doing it! And we’re pressing on!” he wrote in a social media post.
Kyriakos Mitsotakis: his post on Greece’s public debt reduction
“Reducing the public debt is a national duty. Because when an entire country is in debt, so are its citizens. And when one generation cannot pay off what it owes, the burden falls on the shoulders of its children. Well, that destructive chain of obligations is now being broken. Greece is reducing its legacy debt faster than any other European country — and with yesterday’s announcement of the early repayment of €13 billion within 2026, it is leaving behind its unwanted title as the most indebted state on our continent.
I know this news may not attract widespread attention or be immediately easy to grasp. Yet its significance is immeasurable. It means greater fiscal freedom for the state. And fewer burdens for citizens — especially our young people. That is precisely why reducing the debt was one of the central commitments I made, and I am proud that the persistent efforts of the government and all Greeks are making it a reality today.
Yesterday’s development marks the fulfillment of a key objective — and ahead of the timeline we had originally set. By 2031, Greece’s public debt will have fallen below 110%, having already shrunk by one-third since 2021. This translates into far greater national credibility, more favorable borrowing conditions for both the state and businesses, and ultimately, greater prosperity for everyone. This is, therefore, a national achievement that stands above and beyond the daily grind of partisan bickering and complaints.
It represents one of the most meaningful achievements of the Greek people. It is the optimistic message now being sent by a dynamic economy, offering perspective and hope to all of society. We said it! We’re doing it! And we’re pressing on!” the Prime Minister wrote.
Athens plans €13 billion in early debt repayments
Greece plans to make early debt repayments of approximately €13 billion during 2026, aiming to bring its total debt level below that of Italy by the end of the year, according to Bloomberg. The repayments will include around €2.5 billion in loans from the European Financial Stability Facility (EFSF) and a €2.2 billion bond maturing in 2027, according to a source familiar with the matter who spoke on condition of anonymity as final decisions have not yet been made.
Greece will also reduce its treasury bill stock by €1.2 billion by December 31, the sources added. This move follows a series of similar initiatives, as the Athens government leverages its significant fiscal surpluses and high excess liquidity. In June, the country carried out early loan repayments securing €6.9 billion — a step that helped push Greece’s 10-year bond yields below those of Italy, France, and the United Kingdom.
