Economy back to 2009 in four years’ time

The Medium-Term Plan 2025-2028 the National Economy and Finance Ministry presented on Monday foresees a return to the years before the bailouts in terms of basic fiscal figures, such as debt, but also macroeconomic ones, such as GDP.

Nearly 20 years of streamlining, junk-rated bonds and dramatic income cuts have apparently taken the economy back to nearly where it was before it entered bankruptcy.

Comparing the year before the country's entry into the memorandums, 2009, with the final year of the Medium-Term Plan, 2028, puts things into perspective in terms of the successes and failures of the period.

Debt in 2009 was 301 billion euros or 126.7% of GDP. In 2023 it was €356 billion or 161.9% of GDP (with a better profile, of course, after its adjustments). This year it is projected to be 153.7% of GDP, and according to the Medium-Term Plan it will decline to 133...