Current account surplus posts increase in August
Greece’s current account balance showed a bigger surplus in August compared to the same month last year, thanks to higher tourism revenues, the Bank of Greece said yesterday. Central bank data showed the surplus at 1.874 billion euros compared to a surplus of 1.354 billion euros in August last year. Tourism revenues in August, which is the peak of the summer season, rose 16 percent year-on-year to 4.183 billion euros. Last year Greece’s current account showed a deficit of 5.3 billion euros, up by 2.1 billion year-on-year as the trade gap widened. and their cooperation has set an example for European countries, according to Adonis Georgiadis, the Greek minister for development and investments. Georgiadis said Chinese enterprises’ investment in Piraeus port is a successful case of bilateral cooperation. He added that the success of this investment has exceeded expectations. As a result of the investment, the upgraded Piraeus port helps products from China enter Europe more easily and at cheaper prices, he said. The minister added that investment cooperation between Greece and China in the energy sector can also benefit other European countries. The two countries have close cooperation in the shipping industry too. “I think Greece is a good example of cooperation with China, and this could help other European countries consider having more Chinese investments,” he said. The Belt and Road Initiative helps countries like Greece make it through