By Tasos Dasopoulos The slippage of the exchange rate of the euro against the dollar very close to 1:1 increases inflation, since it makes imports of fuel and other raw materials more expensive, but at the same time “pays” for a part of the support measures, for households and businesses. The slippage is attributed to […]
Tag: current account balance
The five-month current account deficit increased significantly, to 10.1 billion euros
In the period January-May 2022, the current account deficit increased significantly compared to the same period in 2021 according to the Bank of Greece, due to the deterioration primarily of the goods balance and secondarily of the primary income balance, which was to some extent offset from the improvement of balances of services and secondary […]
BoG: Ejection by 1,000% of tourism revenues in April
The current account deficit in April 2022 decreased on an annual basis, due to the improvement in the primary and secondary income balances, as well as the services balance, which was partially offset by the deterioration of the goods balance. At the four-month level, however, the current account deficit increased significantly in January-April 2022 compared […]
BoG: Current account deficit increased in the first quarter
In the first quarter of 2022, the current account deficit increased compared to the same period in 2021, mainly due to the deterioration of the goods balance and, to a lesser extent, the primary and secondary income balances, which was to some extent covered by the increase of the services surplus, as announced today by […]
‘Opening’ of the current account deficit in January – February
In February 2022, the current account deficit increased compared to February 2021, due to the increase in the goods deficit, which was partially offset by the improvement in the primary and secondary income balances, a small increase in the primary and secondary income The Bank of Greece emphasizes in its announcement. In the period January-February […]
BoG: Current account deficit increased by € 1.6 billion in January
In January 2022, the current account deficit increased compared to the corresponding month of 2021, mainly due to the deterioration of the balance of goods and, to a lesser extent, the balance of primary income, which was partially offset by the improvement of services and secondary income. According to an announcement by the Bank of […]
Eurobank: Imports and energy crisis ‘slow down’ the improvement of the current account balance
The country’s dependence on imports and the energy crisis are limiting the improvement of the current account balance in 2021, Eurobank points out in its weekly bulletin “7 Days Economy”, which analyzes the latest data of the Bank of Greece. According to the BoG, the current account deficit in the 11 months of January-November 2021 […]
BoG: Current account deficit reduced in January-November
In November 2021, the current account deficit increased compared to the corresponding month of 2020, due to the deterioration of the balance of goods and the balances of primary and secondary income, which was partially offset by the improvement of the balance sheet today, Bank of Greece. At the same time, in the period January-November […]
BoG: Current account deficit narrowed in September
The current account deficit decreased in September 2021 compared to the corresponding month of 2020, due to the improvement of the services balance, which was partially offset by the deterioration of the balance of goods and the balances of primary and secondary income announced today by the Bank. of Greece. The deficit also decreased for […]
How inflation increases twin deficits
By Tasos Dasopoulos The looming prolongation of the energy crisis with the increases in electricity, gas and oil prices, combined with the new outbreak of the pandemic, comes to strengthen the “twin” deficits, the fiscal and the current account balance, which reappeared at the end of 2020. due to the pandemic. The trade deficit that […]