ECONOMY

Greek credit shrinks 4.9 percent year-on-year in July

Total credit in Greece shrank 4.9 percent year-on-year in July, with the pace of decline

unchanged from the previous month, Bank of Greece data showed on Friday.

Credit extended to the government fell by 13.3 percent after shrinking by 14.1 percent in June, the central bank said.

Lending to businesses and households also declined by 3.7 percent compared to a 3.5 percent decline in June.

[Reuters]