Greece balance of travel services posted a surplus of EUR 735.9mn

Macro/Political:

Based on provisional data, the balance of travel services in April 2026 posted a surplus of EUR 735.9mn, up from a surplus of EUR 697.3mn in April 2025. Travel receipts rose by 9.5% (y-o-y) to EUR 1,114.6mn, while travel payments also increased by 18.2% (y-o-y) to EUR 378.8mn. In January-April 2026, the balance of travel services showed a surplus of EUR 1,664.3mn, up from a surplus of EUR 1,049.9mn in the same period of 2025.
Source: BoG

Macro/Political:

Energy Minister Michalis Damianou stated yesterday that the GSI project has not been frozen. According to Damianou, the project’s due diligence study is expected to be completed by the end of the year. He also noted that the total cost of the project was initially estimated at approximately EUR 1.9bn, with EUR 658mn to be funded by the EU. Damianou further explained that, of the remaining EUR 1.25bn, Cyprus is expected to cover 63%, as the project is considered more beneficial to Cyprus due to its energy isolation. However, the key question remains whether the project’s total cost will indeed be limited to EUR 1.9bn and, if it exceeds that amount, how the additional funding will be secured, given that passing the full cost on to Cypriot consumers is not considered the preferred solution.
Source: StockWatch