Financial News: Greece Current Account Deficit Narrows In November

Greece Current Account Deficit Narrows In November

(RTTNews) - Greece's current account deficit declined in November due to an improvement of the services balance and the primary income account, data from the Bank of Greece showed Monday.

The current account gap fell by EUR 31.8 million year-on-year to EUR 3.2 billion in November. The services balance and the primary income account were almost fully offset by a deterioration of the balance of goods and the secondary income account.

The deficit on goods and services rose to EUR 2.55 billion from EUR 2.38 billion last year. The services balance advanced to EUR 677.4 million from EUR 448.4 million.

The shortfall in primary income fell to EUR 371.5 million from EUR 590.6 million, while the deficit on secondary income rose to EUR 224.2 million from EUR 208.6 million in the prior year.

In November, the capital account showed a surplus of EUR 58.4 million, against a deficit in November 2023, reflecting net receipts, instead of net payments, in the other sectors of the economy excluding general government, data showed.

In November, the deficit of the combined current and capital account fell from last year to EUR 3.1 billion.

In January to November, the current account deficit increased by EUR 510.9 million from last year to EUR 11.5 billion.

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