ECONOMY

Current account gap widens in February, tourism revenue rises

current-account-gap-widens-in-february-tourism-revenue-rises

Greece's current account balance showed a larger deficit in February compared to the same month last year, on the back of a wider trade gap and a deteriorated balance in the primary income account, the Bank of Greece said on Tuesday.

Central bank data showed the deficit at 1.138 billion euros ($1.23 billion) from a deficit of 1.015 billion euros in February 2019.

Tourism revenues rose to 240 million euros from 198 million in the same month a year earlier.

In 2018, Greece's current account showed a deficit of 5.3 billion euros, up 2.1 billion year-on-year as the trade gap widened.

In 2019 the current account showed a deficit of 2.6 billion euros.

[Reuters]