June 19, 2020 / 8:14 AM / 19 days ago

Greek current account gap shrinks in April, tourism revenues plunge

    ATHENS, June 19 (Reuters) - Greece's current account balance
showed a smaller deficit in April compared to the same month
last year, on the back of an improved trade balance, the Bank of
Greece said on Friday.
    Central bank data showed the deficit at 1.133 billion euros 
($1.27 billion) from a deficit of 1.397 billion euros in April
2019.
    Tourism revenues plunged to 7.0 million euros from 544
million in the same month a year earlier as the sector was hit
by the impact of a lockdown to contain the spread of the new
coronavirus.
    In 2018, Greece's current account showed a deficit of 5.3
billion euros, up 2.1 billion year-on-year as the trade gap
widened. In 2019 the current account showed a deficit of 2.6
billion euros.

********************************************************
CURRENT ACCOUNT (bln euros)  2020     2019
April                       -1.133   -1.397
March                       -1.106   -1.538
February                    -1.138   -1.015
January                     -1.291   -1.183
--------------------------------------------
source: Bank of Greece

($1 = 0.8923 euros)

 (Reporting by George Georgiopoulos)
  
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