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Financial News: Greece Current Account Deficit Widens In March

Greece Current Account Deficit Widens In March

05/21/2024 - 07:46:00 (RTTNews)

(RTTNews) - Greece's current account gap increased in March, mainly due to deterioration in the secondary income account, data from the Bank of Greece showed on Tuesday.

The current account deficit rose to EUR 2.7 billion from EUR 2.4 billion in the same month last year.

The visible trade deficit remained broadly stable at EUR 2.58 billion in March. Meanwhile, the surplus in the services balance shrank to EUR 402 million from EUR 438 million a year ago.

The primary income account deficit narrowed to EUR 398 million from EUR 633 million last year.

The secondary income balance turned into a shortfall of EUR 114 million from a surplus of EUR 378 million, which made the major difference in the current account. 

At the end of the first quarter, the capital account balance showed a deficit of EUR 108 million, while the financial account deficit narrowed to EUR 2.37 billion.

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