Current Account in Greece

Greece Current Account (EUR bn) | Economic News & Forecasts

Greece - Current Account (billions of Euros)

Complete data for the fourth quarter show that the economy ended last year on a much weaker footing than initially estimated, recording the sharpest contraction since Q3 2015. The deterioration was driven by nosediving investment and a sharp slowdown in household spending. The abysmal result underscores the challenges facing the debt-burdened country and the lack of progress made towards a sustained recovery despite multiple macroeconomic adjustment programs. In addition, the country’s feeble economic state has increased skepticism over whether the government will be able to hit tough bailout targets. The bailout review was delayed again in March as the government and its creditors remain at odds over required reforms, in particular concerning the labor market. A successful review is needed to unlock fresh funds, which are vital before over EUR 7 billion in bond payments are due in July.

Greece - Current Account (EUR bn) Data

2012  2013  2014  2015  2016  
Current Account Balance (EUR bn)-29.3  -25.7  -20.7  -7.3  -3.7  

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Greece Current Account (EUR bn) Chart

Greece Current Account
Note: Current account balance as % of GDP.
Source: Greece Central Bank and FocusEconomics calculations.

Greece Facts

Bond Yield7.180.19 %Apr 06
Exchange Rate1.07-0.05 %Apr 06
Stock Market6710.18 %Apr 06

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