Surplus About EUR 200 million (EUR 196.5 million) has been, for the first time in recent years, in May, the Current Trade Balance of the country. It is recalled that in the corresponding month of 2024 the balance recorded a deficit of EUR 2.32 billion. This development according to the data released by Bank of Greecereflects the outcome of structural interventions that have been primarily in the field of services.

It is indicative that the services sector, especially tourism, according to the BoG data, showed 2.21 billion in May in May this year, from € 1.88 billion last year. According to ELSTAT data, tourism now accounts for 20% of Greece’s GDP and 20% of employment.

At the same time, the image of the country’s trade balance was improved as the deficit was reduced in May to € 2.3 billion in May from € 3.4 billion this year in 2024.

According to financial analysts, the appearance of the surplus, in addition to the support of tourism, is due to two factors:

– First in disbursements by the EU’s resilience recovery fund, which enhances infrastructure and the digitization of the economy, thereby creating a favorable environment for the development of tourism and services in general.

It is recalled that last week, Deputy Minister of National Economy Nikos Papathanassis submitted to the European Commission the sixth request for the disbursement of resources from the Recovery and Resilience Fund of EUR 2.1 billion in grants, after 39 new and 39 -year -olds. To date, Greece has successfully completed 5 payment requests and the total amount of disbursements from the resources of the Recovery and Resilience Fund is € 21.3 billion, exceeding 59% of the total budget of the National Plan “Greece 2.0”. With the completion of the 6th request, which was filed last week, total disbursements to Greece will now amount to € 23.4 billion, so 65% of the total resources of it, while disbursements specifically of the grants will reach € 12.04 billion, so 66% of the resources available. The request for the loan of € 1.8 billion will be submitted in September.

– The second factor is associated with stimulating domestic demand. Increases in minimum wages and social security contributions have led to an increase in available income, thereby further enhancing the tourism industry.