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2014.09.2207:59:00UTC+00Greece July Current Account Surplus Falls

Greece's current account surplus for July decreased from the same month last year, figures from the Bank of Greece showed Monday.

The current account surplus declined to EUR 1.68 billion from EUR 2.82 billion a year ago.

The significantly higher surplus recorded in July 2013 was mainly due to an inflow of EUR 1.5 billion recorded in the current transfers balance, representing the first disbursement under the ECB's Securities Markets Programme, the central bank said.

Excluding this exceptional inflow, the current account surplus in July 2013 would have been lower than in July 2014, it added.

The visible trade deficit widened to EUR 1.73 billion from EUR 1.52 billion in the same month last year. The surplus in the services trade account decreased to EUR 3.34 billion from EUR 2.87 billion last year.

Meanwhile, the deficit in the income account narrowed to EUR 248.3 million from EUR 387 million last year. The surplus in the current transfers account EUR 320.8 million from EUR 1.86 billion in a year ago.

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