Greece is now able to raise money in markets after €289bn bailout ends

As Greece exits its bailout, new government figures show a drop in the country’s current account surplus compared to a year ago, but a rise in tourist revenues. Reuters reports:

Greece’s current account balance showed a smaller surplus in June compared to the same month a year earlier on the back of a wider trade deficit, the Bank of Greece said on Monday.

Central bank data showed the surplus fell to 210 million euros ($240.18 million) from a surplus of 737 million euros in June 2017. Tourism revenues increased to 2.33 billion euros from 2.007 billion in the same month a year earlier.

“In June the current account … (was) down by 527 million euros year-on-year, as a result of a deterioration principally in the balance of goods and to a lesser extent in the primary income account,” the Bank of Greece said.

It said the trade gap rose by 535 million euros as imports outstripped exports, mainly the result of a worsening in the oil balance.

#Greece central government debt +€1.64 bln QoQ to €345.38 bln at end-June from €343.74 bln at end-March (MoF). #economy


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And another reality check:

It’s official! #Greece‘s tragedy is ‘over’ as its bailouts end. But #GDP still 25% smaller than before the start of the financial crisis!

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