Greek current account gap shrinks 85 pct y/y in January

Greece’s current account deficit narrowed 85 percent in January, helped by falling imports due to the country’s recession, the Bank of Greece said on Thursday.

The current account balance showed a deficit of 221.6 million euros from 1.447 billion euros in the same month last year.

Tourism receipts, the country’s biggest money earner, dropped 4.3 percent year-on-year to 130 million euros in January. [Reuters]