ECONOMY

Greek current account deficit widens in October, tourism revenues up

Greek current account deficit widens in October, tourism revenues up

Greece's current account balance showed a slightly wider deficit in October compared to the same month a year ago on the back of a wider deficit in the balance of goods, the Bank of Greece said on Friday.

Central bank data showed the deficit at 871 million euros from a deficit of 789 million euros in October 2017.

Tourism revenues increased to 1.41 billion euros from 1.19 billion in the same month a year earlier.

“The current account registered a deficit of 871 million euros, up by 82 million year-on-year, due to a deterioration mainly in the balance of goods, as well as in the secondary income account. By contrast, the services balance and the primary income account improved,” the Bank of Greece said.

In January to October, Greece's current account showed a deficit of 2.1 million euros, up by 1.6 billion euros year-on-year as the trade deficit widened and the primary income account deficit widened.

In 2017 as a whole, Greece's current account deficit reached 1.5 billion euros, down by 418 million year-on-year. [Reuters]