ECONOMY

Current account deficit shrinks in October

current-account-deficit-shrinks-in-october

Greece’s current account deficit shrank in October compared with the same month last year thanks to higher tourism revenues, the Bank of Greece said on Friday.

Central bank data showed the deficit was 673 million euros, down from 915 million in October 2018.

Tourism revenues rose 4 percent to 1.442 billion euros, from 1.385 billion in the same month last year.

Last year, Greece’s current account showed a deficit of 5.3 billion euros, up 2.1 billion year-on-year as the trade gap widened.

[Reuters]