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Greece Current Account Surplus Declines In August

Greece’s current account surplus decreased in August on widening shortfall in primary income, the Bank of Greece reported.

The current account surplus fell to EUR 1.5 billion from EUR 1.8 billion in the previous year.

The deficit of the balance of goods increased marginally to EUR 1.69 billion and the surplus of the balance of services showed a small decline to EUR 3.8 billion.

The shortfall in secondary income account came in at EUR 101 million versus a deficit of EUR 108.3 million last year.

Primary income showed a deficit of EUR 436 million compared to prior year’s EUR 247 million shortfall. The deterioration in the primary income account reflects lower receipts from dividends, interest and profits.

In the January-August period, the current account registered a deficit of around EUR 910 million, up by EUR 857 million year-on-year, as a result of a deterioration in the balance of goods and in the primary income account.
Source: RTT News

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