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Greek December current account deficit widens, tourism revenues up -Breaking

by Mike Robinson

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ATHENS (Reuters) -Greece’s present account steadiness confirmed a wider deficit in December final 12 months in comparison with the identical month in 2020 whereas tourism revenues rose, the Financial institution of Greece stated on Monday.

Central financial institution information confirmed the present account hole reached 1.707 billion euros ($1.94 billion) from a deficit of 0.639 billion euros in December 2020.

The Financial institution of Greece stated the widening of the present account deficit was the results of a bigger commerce hole as imports outpaced exports. At fixed costs exports have been down 1.5% whereas imports rose 17.1%.

In 2021 as an entire, Greece’s present account deficit shrank by 356 million euros in comparison with a 12 months earlier reaching 10.6 billion euros ($12.04 billion).

Tourism income in December rose to 177 million euros from 35 million in the identical month a 12 months earlier, when widespread curbs to stem the unfold of COVID-19 have been in drive.

Greece’s reserve belongings rose to 12.8 billion euros on the finish of final 12 months, up from 12.5 billion in November.

($1 = 0.8802 euros)

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