ECONOMY

Greek current account posts surplus in May, helped by tourism

greek-current-account-posts-surplus-in-may-helped-by-tourism

Greece's current account posted a surplus in May compared to a deficit in the same month a year earlier helped by higher tourism revenues, central bank data showed on Tuesday.

The surplus stood at 407.2 million euros versus a deficit of 299 million euros in May 2014. Tourism revenues rose by 17 percent year-on-year to 1.21 billion euros in May.

Last year, Greece posted a current account surplus of 1.66 billion euros, up from 1.09 billion euros in 2013, helped by higher tourism revenues – its biggest foreign currency earner. [Reuters]