Greece plans to raise up to €8 billion  from the markets through new sovereign bond issues in 2025, according to the head of the Public Debt Management Agency (PEMA), covering about three-quarters of its annual financing needs, Bloomberg reports.

The borrowing will be directed to cover part of the €11 billion needed to fund the state's total financing next year, with the rest coming from European funds such as the Recovery Fund and other sources, ODMH chief Dimitrios Tsakonas said. Greece has sold €9.5 billion worth of bonds in 2024.

The government is moving to further reduce the debt-to-GDP ratio as the economy grows steadily since the pandemic, looking forward to a reduction of about 20 percentage points over the next four years. Prime Minister Kyriakos Mitsotakis on Monday unveiled his plan to prepay more of his financial crisis-era bailout loans in 2025, with early repayment of long-term debt maturing between 2033 and 2042.

Greece sees its economy growing by 2.3% in 2025, up from a projected 2.2% this year, outperforming many other eurozone countries. The new budget published on Wednesday projects government debt to fall to 147.5% of GDP in 2025, down from 154% this year.

The primary surplus—a measure of revenue minus spending, excluding interest payments—will fall to 2.4% of gross domestic product, just below this year's figure of 2.5%, the projections show.