Pakistan Current Account Deficit Narrows Down To $259 Million in September
The Pakistan Tehreek-E-Insaf government continues to make efforts of getting rid of the agonizing headache of current account deficit. The government seems pretty much successful in its efforts as the country’s current account deficit has narrowed down to $ 259 million in the month of September this year. This was revealed by the state bank of Pakistan (SBP).
The current account deficit stood at $ 1.278 billion in the same month of last year. The recent decrease in the current account deficit has shown a grand reduction of 80% as compared to the same month of last year.
On the other hand, the country’s exports has also recorded an increase of 5.9 percent. While the imports got decreased by 18.6 percent. The money sent by the expats back home also increased by 17.6 percent in September 2019.
Furthermore, foreign portfolio investment recorded a net inflow of $ 292 million during Sep FY20 against net outflow of $15 million in the same month of last year.
Earlier, advisor to Primer Minister Imran Khan, Abdul Razaq Dawood had claimed that the current account deficit will be zero at the end of the ongoing fiscal year.
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