June current account surplus slides despite higher tourism revenues

Despite an increase in revenues from tourism, Greece’s current account surplus shrank in June compared with the same month a year earlier.

The decline was mainly due to a deterioration in the income balance, Bank of Greece statistics showed Thursday. The surplus stood at 1.0 billion euros versus 1.25 billion euros in June 2014.

Tourism revenues rose to 1.91 billion euros from 1.89 billion euros in the same month last year.

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.