The Greek government’s economic staff is attempting to put in order the requests of agencies and ministries ahead of the 2026 budget and a new budget for 2026, after the August 15 holiday. The main reason is that before and after the TIF and the submission of the draft budget, a barrage of reports from international organizations and rating agencies is expected, which should not send the wrong message to the markets in an attempt to get Greece back to where it once was in the investment grade.

The “messages” for the TIF

Announcements at the Thessaloniki International Fair will be made on September 7, with the aim of improving everyday life and boosting the income of citizens.

But just 12 days after the TIF, the Moody’s agency will give the first indication of how it “hears” the announcements and announcements about our country’s prospects.

Not coincidentally, this particular House is also considered the “toughest” towards Greece for the past 15 years, as it was the last one that – only recently and with a long delay – upgraded Greece back to investment grade.

This fact alone is a reminder that the TIF’s announcements and the new budget as a whole will be constantly under the “microscope” in a difficult exercise of balancing the desirable with the achievable.

Everything in “moderation”

And before the Prime Minister has even “heard” what he has to say, by August 29, all ministries and state agencies will have sent to the Ministry of National Economy and Finance their proposals with their requests for 2026 spending so that the preparation of next year’s draft budget can begin.

In a circular, Deputy Minister of National Economy and Finance Thanos Petralias has sent them a “message” to limit themselves to the spending ceilings set by each ministry and institution, stressing that any spending they ask to do must be efficient, otherwise it is “cut”.

The Critical Dates

Just two days after the announcements at the Thessaloniki International Fair (TIF), on the evening of Friday, September 5th, the Canadian rating agency DBRS will release its second assessment of Greece’s creditworthiness, with attention focusing on its comments regarding the course of the Greek economy.

Indirectly, this will indicate what markets and foreign investors expect to “hear” from the Prime Minister about the trajectory of the Greek economy.

Following Kyriakos Mitsotakis’ announcements from the podium of TIF, at the end of September, the Ministry of National Economy and Finance will send to Brussels the draft of the new state budget, which will incorporate the Prime Minister’s pledges, while on October 3rd it will also be submitted to Parliament.

After that, the baton passes once again to the rating agencies and international organizations: following Moody’s, the report from Standard & Poor’s is expected on October 18th, from Fitch in November—and more will follow. At the same time, reports on the European and Greek economy are expected from the European Commission and the OECD, along with the European Commission’s assessment of Greece’s targets and fiscal trajectory within the framework of the European Semester.