Mitsotakis: Debt Reduction Is “National Liberation” — The €13B Message Before TIF

Greece prepares another early debt repayment as R&I upgrades the outlook and Athens signals more economic measures for September

Prime Minister Kyriakos Mitsotakis is putting public debt reduction at the heart of the government’s economic narrative ahead of the Thessaloniki International Fair, describing the effort as a form of “national liberation” and a matter of fairness toward future generations.

Greece is preparing another early public-debt repayment of around €13 billion in 2026, while Mitsotakis says €36 billion has already been repaid ahead of schedule since 2019.

Greece’s fiscal numbers

• €13B in planned early debt repayment in 2026
• €36B already repaid early since 2019, according to Mitsotakis
• €5.72B primary surplus in the first seven months
• €4.41B was the initial target for the same period
• Public debt could fall to around 137% of GDP by end-2026
• BBB / Positive outlook from Japan’s R&I

Budget figures show Greece posted a primary surplus of €5.72 billion in the first seven months, above the €4.41 billion target, strengthening the government’s argument that fiscal discipline is generating additional room for debt reduction and targeted relief.

“Reducing debt is national liberation”

Mitsotakis gave the fiscal strategy a distinctly political framing.

“Reducing the debt is not some abstract concept. I would go so far as to say it is national liberation.”

He linked lower debt directly to the state’s ability to support society and the economy.

“The faster we reduce this debt, the more the state can breathe. And when the state is not suffocating under its obligations, it can support citizens better, secure better borrowing conditions for businesses and ultimately create conditions for prosperity for everyone.”

He also framed the issue as one of intergenerational justice.

“We cannot burden our children with bills that were created in the past.”

Greece wants to leave one old record behind

The government is also highlighting the speed of debt reduction relative to the rest of Europe.

If current projections hold, Greece could cease to be the EU country with the highest debt-to-GDP ratio by the end of 2026, with Italy moving above it.

That would carry strong symbolic value for a country whose sovereign-debt crisis dominated European politics for more than a decade.

R&I sends another positive signal

The fiscal story was reinforced by Japanese rating agency R&I, which maintained Greece at investment grade but upgraded the outlook from Stable to Positive.

The agency cited continued growth, strong primary surpluses, falling public debt and improved financial stability.

Mitsotakis explicitly tied the development to the government’s broader economic strategy.

“We continue, therefore, and I am certain I will have more to say about this from the podium of the Thessaloniki International Fair in two weeks.”

The remark effectively serves as a preview of the government’s September economic agenda.

The message is increasingly clear:

fiscal credibility → lower debt → greater room for tax and social-policy interventions.

And that is likely to be one of the core themes Mitsotakis carries into TIF.

Source: pagenews.gr