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04 August, 2001
The current account deficit narrowed to 3.257 billion euros in January to May, down 289 million euros from the same period in 2000, the Bank of Greece said in a statement on Friday.
The central bank attributed the decline to a drop in the trade deficit to 8.3 billion US dollars from 8.5 billion dollars in the same period of last year; and to a rise in the services account surplus. Converted into euros, the trade deficit rose slightly.
At the end of May, foreign currency reserves stood at 7.8 billion euros (6.4 billion US dollars), the Bank of Greece said.
Source: Athens News Agency
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