Bank of Greece
A significant increase in tourism revenue in the first half of the year helped Greece to reduce its current account deficit, more than the growth in imports. This is indicated by the Bank of Greece data.
The tourism revenues for the first six months of 2019, were € 5.5 billion, up by 15.3% from € 4.77 billion for the same period in 2018.
The Greek association of small businesses has asked Bank of Greece Governor Yannis Stournaras and Public Power Corporation CEO George Stassis for relief measures for businesses on the northern Aegean island of Samothraki that have suffered as a result of the 12-day suspension of ferry connections earlier this month.
A significant increase in tourism revenues in the first half of the year helped to reduce Greece's current account deficit, more than the growth in imports, according to figures published by the Bank of Greece.
Tourism revenue in the first six months of 2019 was € 5.5 billion, up 15.3% from $ 4.77 billion in the same period in 2018.
A significant increase in tourism revenue in the first half of the year has helped narrow Greece's current account deficit, more than offsetting a rise in imports, data published by the Bank of Greece show.
Revenue from tourism in the first six months of 2019 was 5.5 billion euros, up 15.3 percent from the 4.77 billion earned in the same period in 2018.
Greece's current account balance showed a larger surplus in June compared to the same month last year, on the back of a smaller trade gap and a stronger services surplus, the Bank of Greece said on Tuesday.
Central bank data showed the surplus at 874 million euros ($967.52 million) compared to a deficit of 9 million euros in June 2018.
The Greek banking system has radically changed over the past two decades. Mergers and acquisitions had already begun in the late 1980s, but it was two significant events 20 years ago that marked the beginning of a process that has led to the consolidation of the country's banking sector in the dominant "big four" (Alpha Bank, Eurobank, National Bank of Greece and Piraeus Bank).
Small and medium-sized enterprises are experienced a surge of confidence in their economic prospects.
Research by National Bank of Greece on a sample of 1,160 firms with turnover of less than 10 million euros showed the confidence index jumping to a 10-year high of 18 in the first half of 2019, up from 13 in the second half of 2018.