Greece’s interest expenditure is expected to decline in the coming years despite the increase in borrowing costs internationally. That’s thanks to favorable economic and fiscal developments that will continue to reduce its public debt as a percentage of GDP, according to an analysis by credit rating agency Morningstar DBRS.

While borrowing costs in Western Europe are soaring, Greece keeps its cost of borrowing contained, for a multitude of reasons.

Greece’s interest expenditure is expected to decline in the coming years despite the increase in borrowing costs internationally. That’s thanks to favorable economic and fiscal…