The Greece current account surplus increased in July largely due to the inflows under the Securities Market Program.
The current account surplus rose notably to EUR 4.25 billion from EUR 1.27 billion in the same period of last year.
The central bank said inflow of EUR 1.8 billion due to SMP helped to improve the secondary income account and was followed by the transfer of the funds to a Greek government account held with the European Central Bank.
Moreover, in July, the goods and services surplus rose to EUR 2.47 billion, mainly due to a large decrease in imports.
The surplus of the services balance fell by EUR 118 million, as a result of lower net receipts from sea transport services. By contrast, the travel and other services balances improved.
The primary income account showed a small deficit of EUR 54 million, against a small surplus in July 2014, while the secondary income account improved substantially to EUR 1.83 billion.
In July, the capital account showed a surplus of EUR 2.4 million. In the January-July period, the capital account showed a surplus of EUR 609 million, down by EUR 1.2 billion from last year.
The material has been provided by InstaForex Company – www.instaforex.com