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Tourism Revenues Boost Greece’s May Surplus

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In May, Greece experienced a surplus in comparison to last year's deficit, exactly a year prior.

The boost was assisted by larger tourism revenues, which was confirmed by central bank statistics today. The excess is valued at 407.2 million euros, while last year's May deficit amounted to 299 million euros.  Tourism gains increased by 17% over the year, to reach 1.21 billion euros by May.

In 2014, Greece experienced a current account surplus that totaled 1.66 billion euros, compared to 2013's 1.08 billion euro figure. The enlargement was partially attributed to tourism monetary gains, as it is the nation's largest oversees currency generator.

(Source: Reuters)