BUSINESS

Greek current account deficit shrinks in November, tourism revenues rise

TAGS: Business, Economy

Greece's current account deficit shrank in November 2017 compared to the same month a year earlier on the back of a lower trade gap, the Bank of Greece said on Monday.

Central bank data showed the deficit at 0.954 billion euros from a deficit of 1.25 billion euros in November 2016.

Tourism revenues rose to 225 million euros from 222 million in the same month a year earlier.

"In November the current account showed an improvement of 296 million euros year-on-year. This development is almost entirely attributable to a decrease in the deficit of the balance of goods," the Bank of Greece said.

In 2016 as a whole, Greece had a current account deficit of 1.1 billion euros versus a surplus of 206 million in 2015 as a result of a lower services balance surplus.

[Reuters]
 

 

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