Greece’s present account excess drops in July compared to 2022

Friday, September 22, 2023


Greece’s present account excess declined in July equated to the similar month in 2022 as main and
subordinate earnings accounts worsened, balancing tourism incomes, as per statistics available from the
Bank of Greece.

Data from the central bank exhibited that the up-to-date account surplus is 828 million euros in the month of July, going down from a surplus of 963 million euros in July last year.

As per data, shortfall of the chief income account doubled up year-on-year owing to greater interest,
bonus and profit expenditures.

The excess in the stability of goods and services more than doubled, aided by tourism incomes featuring at 4.15 billion euros, marking a 15% increase equated to July 2022, when Greece just recuperated from the pandemic limitations.

In 2022, Greece witnessed its trade shortage increasing by 63% year-on-year to 20 billion euros or
9.7% of its financial production, on the back of pricier energy imports.

Increasing exports, aided by tourism, would aid lower the shortfall this year, as said by a monetary constancy strategy that Greece submitted to the European Union in April.

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