Greece’s current account surplus increased in August compared to the same month a year ago due to a stronger services balance, the Bank of Greece said on Monday.
Data released by the bank recorded the surplus at 1.827 billion euros ($2.15 billion) from 1.664 billion euros in August 2016.
Tourism revenues reached 3.52 billion euros from 3.02 billion in the same month a year earlier.
“The rise in the surplus of the services balance is due to an improvement mostly in the travel balance, since non-residents’ arrivals and the corresponding receipts increased by 14.3 and 16.4 percent respectively,” the Bank of Greece announced.
During 2016 as a whole, Greece had 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.
Source: Reuters
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