Greece’s current account deficit widened in March compared to the same month in 2020, with the gap reaching 1.462 billion euros from 1.119 billion euros a year earlier, the central bank said on Friday.
The Bank of Greece said the widening of the current account gap was due to a deterioration in the trade, services and secondary income balances, which was partly offset by the primary income balance.
In the first quarter Greece’s current account gap shrank by 826 million euros compared to the same period a year earlier, helped by a smaller trade deficit, the central bank said.
Tourism revenues fell to 0.034 billion euros in March from 0.092 billion euros in the same month in 2020 as global restrictions to stem the spread of the COVID-19 pandemic took a toll on travel.
The Bank of Greece said Greece’s foreign exchange reserves stood at 9.1 billion euros at the end of March compared to 8.5 billion in the same month in 2020.
Photo: EC – Audiovisual Service
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