ATHENS, March 14 (Xinhua) -- Moody's has affirmed Greece's sovereign credit rating at Baa3 with a stable outlook, citing stronger-than-expected fiscal performance and solid macroeconomic fundamentals, Greek national broadcaster ERT reported Saturday.

In its latest report, Moody's said Greece's credit profile reflects credible reforms, improved governance and institutions, and a healthier banking sector supporting investment and economic resilience.

Greece's fiscal performance since the COVID-19 pandemic has consistently exceeded expectations, Moody's noted, saying that Greece recorded a primary budget surplus of 4.7 percent of GDP in 2024, with the surplus projected at 4.4 percent in 2025.

Public debt has also declined significantly, falling to about 154 percent of GDP in 2024 and expected to drop to 148 percent by the end of 2025, the lowest level since 2010.

Despite the improvement, the agency said Greece's debt burden remains high, although its favorable debt structure and large cash reserves help mitigate risks. ■