FX.co ★ Greece Credit Growth at Over 1-1/2-Year Low

The annual growth of total credit to the Greek economy slowed to 3.4% in July 2026, down from 5.0% in June, marking the weakest pace since September 2024. Bank lending also saw a sharp monthly reversal: the net flow of total credit turned negative, at -€3.96 billion, after a positive €3.50 billion in the previous month. Part of this decline stemmed from credit to the general government, where a net outflow of €1.37 billion replaced an inflow of €213 million in June. Consequently, the annual growth rate of government credit fell to -2.0%, from 0.4% a month earlier. Lending to the private sector also lost momentum, with annual growth easing to 6.8% from 7.7%. The monthly flow of private-sector credit turned negative as well, at -€2.59 billion, reversing a €3.29 billion increase recorded in June.