Greek Current Account Records Surplus For First Time Since 2010

Greek Current Account Records Surplus For First Time Since 2010


Greece's current account turned to a surplus in July from a deficit in the previous month, showing positive balance for the first time since May 2010, data released by the Bank of Greece showed Tuesday.
The current account swung to a surplus of EUR642 million in July from a deficit of EUR880 million in the same month last year.
The deficit in the goods trade account narrowed to EUR1.73 billion from EUR2.56 billion a year earlier. The services account, meanwhile, showed a surplus of EUR2.6 billion, up from last year's EUR2.54 billion surplus.
The balance in the income account was a deficit of EUR144 million during the month, lower than the EUR893 million deficit seen in July last year. The current transfers account slipped to a deficit of EUR89.3 million from a EUR30.6 million surplus.
In the January-July period, the current account deficit narrowed sharply to EUR6.46 billion from EUR13.84 billion in the same period a year earlier, data showed.