Travel balance edges at 94.8 mln in Mar and 211.9 mln in three-month period
April hirings balance positive by 110,895, aggregate balance highest on record
OECD lowers growth forecast, warns Athens to maintain fiscal credibility
New overdue taxes rise by 489 mln in Mar, total legacy and new debt at 104.5 bln
Current account deficit widens in March due to deteriorating goods trade balance
Central govt debt falls for first time in six quarters, easing by 1.25 bln to 357.69 bln in Q1
Greek C/A deficit to July narrowed to just 156 mln with boost from tourism
The July current account (C/A) balance showed a surplus of 2.73 billion euros from 510 million euros last year, according to the Bank of Greece (BoG). The significant increase mainly reflects a jump in the current transfers’ surplus to 1.86 billion, from just 100 million last year, owing to an inflow of 1.5 billion related to SMP income. This was accruing to the ECB and payable to Greece following a Eurogroup decision in November 2012.
Excluding this one-off item, the July “recurring” figure is still materially improved, up 142 percent year on year (yoy) at 720 million, mainly courtesy of the trade deficit heading south (down 12.0 percent) and a services surplus hike (up 10.1 percent)...
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