Current Account in Greece

Greece Current Account | Economic News & Forecasts

Greece - Current Account

Incoming data suggests that the economy is set to grow this year, although the recovery is likely to be moderate overall. An improving labor market—the unemployment rate fell to the lowest level since November 2011 in August—should give a boost to household spending. However, recent manufacturing figures are less bright: Industrial production growth slowed in September, and the manufacturing PMI eased in October. Policymakers are preparing for a summer exit from the country’s third bailout program. On 15 November, the government launched a EUR 30 billion debt swap designed to boost liquidity and help facilitate future sales. The government will need to tap into markets again next year to cover its financing needs once it exits the program. Preserving investor confidence will be key to regaining financial freedom; bond yields have fallen notably this year.

Greece - Current Account Data

2012  2013  2014  2015  2016  
Current Account (% of GDP)-3.8  -2.0  -1.6  0.1  -0.6  

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Greece Current Account Chart

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

Greece Facts

Bond Yield5.090.76 %Nov 17
Exchange Rate1.180.65 %Nov 17
Stock Market712-1.46 %Nov 17

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