Greek current account deficit widens as COVID crushes tourism

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Greece’s current account gap widened sharply last year as the coronavirus pandemic cut revenues in the vital tourism sector by more than three quarters, data from the Bank of Greece showed on Monday.

The data showed the deficit at 11.17 billion euros ($13.50 billion) last year, compared with a deficit of 2.73 billion euros in 2019.

Tourism revenues plunged to 4.28 billion euros in 2020 from 18.18 billion in 2019, as global restrictions to stem the spread of the COVID-19 led to an annual drop of 76.5% in tourist arrivals.

Main Photo: EPA-EFE/SIMELA PANTZARTZI

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