BUSINESS

Greek current account deficit widens in November

Greece's current account deficit widened in November compared to the same month a year earlier while tourism receipts rose, according to central bank data published on Tuesday.

The deficit stood at 0.997 billion euros ($1.15 billion) versus a deficit of 0.753 billion euros in November 2013.

Greece posted a current account surplus of 1.24 billion euros in 2013, or about 0.7 percent of gross domestic product.

It is expected to post a surplus again in 2014 due to shrinking imports and higher tourism revenues, its biggest foreign-currency earner.

Tourism revenues rose to 267 million euros in November from 205 million euros in the same month in 2013.

[Reuters]

Online