Following June's early repayment of €6.94 billion from the €52.3 billion bilateral eurozone loan, Greece plans further early debt repayment totalling €13 billion during 2026.
The aim is to bring debt below Italy's level by the end of the year. Using fiscal surpluses and strong liquidity, the Government targets a debt-to-GDP ratio of 137% this year.
National Economy and Finance Ministry officials say that each €1 billion repaid early saves around €30 million at the new borrowing cost. They put the aggregate benefit from the €13 billion at €360 million, with savings exceeding €2 billion over seven years.
They also point to low spreads and the credibility that attracts major investors, arguing that the approach brings wider benefits.
Between 2019 and 2025, Greece made early loan repayments totalling approximately €36 billion.
The Ministry says the strategy reassures institutions, rating agencies and international investors that the state is acting prudently and early to reduce already lower annual gross financing needs further, including after 2032.
Early repayments will continue in subsequent years, with the aim of clearing the loan by 2031 instead of the original 2041 timetable.
Ministry sources also cite a recent Scope Ratings report projecting a substantial fall in Greek debt.
Scope estimates debt at 107% of GDP in 2031, down from 136% this year and 128% in 2027.
That would put Greece below not only Italy, which it is expected to overtake this year, but also France and Belgium by 2031, bringing it closer to the eurozone average.
Eurozone debt is projected at 90% in 2031, the same level as in 2027.
The report also notes that DBRS, Moody's and Scope are due to assess the Greek economy the following month, with Standard & Poor's following in October and Fitch in November.
