Greek current account deficit shrinks in January, tourism revenue down

Greece’s current account deficit shrank in January compared to the same month a year earlier, the Bank of Greece said on Thursday, helped by a stronger surplus in the income account balance.

The data showed the deficit reached 271 million euros ($292.08 million) from 771 million euros in January 2016. Tourism revenues fell slightly to 165 million euros from 169 million in the same month a year earlier.

In 2016 as a whole, Greece posted a current account deficit of 1.1 billion euros versus a surplus of 206 million in 2015 as a result of a lower services balance surplus, which was not offset by the shrinking of the balance of goods deficit.

[Reuters]