Accounts deficit down by 22.5%

Greece’s current accounts deficit fell to 2.8 billion euros in January, down 22.5 % compared to the same month last year, reflecting a large surplus in the current accounts balance , despite a broadening of the trade balance by 185 million euros because of higher oil prices, the Bank of Greece announced on Monday.

The central bank, in a monthly report, said foreign investors continued fleeing the Greek state bond market in the first month of 2011, with capital outflows totaling 1.1 billion euros. Net capital outflow totaled 926 million euros, as compared to a net capital inflow of 926 million euros in the same month last year.

ANA-MPA