Greece's Jan 2007 current account deficit widens by 582 mln eur to 2.8 bln |
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Wed, 21 Mar 2007 10:15
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ATHENS (AFX) - Greece's Jan 2007 current account widened by 582 mln eur year-on-year to 2.804 bln eur due to a widening trade deficit and a higher income account deficit, the Bank of Greece said.The central bank noted the rise in the trade deficit mainly reflects increases in net payments for purchases of ships.However, exports of goods excluding oil and ships rose 14 pct year-on-year to 122 mln eur, while imports rose 12.3 pct to 331 mln eur.The central bank underlined the widening of the income account deficit mainly reflects higher net interest payments on deposits and loans and increased interest payments on Greek government bonds held by non-residents.There were no substantial outflows recorded under direct investment in January but under portfolio investment there was a 4.2 mln net inflow, reflecting foreign residents purchases of Greek government bonds and shares of local firms.Greeces reserve assets reached 2 bln eur at the end of Jan 2007, the Bank of Greece said.Source: Euro2day.gr NewsWireskrekas@euro2day.grns/ms1COPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Macroeconomics highlights to 10:10 GMT 