Pakistan current account deficit after 17 years
Web Desk 22 October 2020
ISLAMABAD: Federal Minister for Science and Technology Fawad Chaudhry has said that after 17 years, Pakistan current account deficit after 17 years and exports and remittances have exceeded imports.
According to details, Federal Minister for Science and Technology Fawad Chaudhry in his message on social networking website Twitter said that after 17 years, Pakistan’s current account came out of deficit and for the first time exports, remittances exceeded imports.
Fawad Chaudhry said that the government has also reduced the expenditure a lot.
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It may be recalled that the State Bank of Pakistan (SBP) had said in a statement on its social networking site that for the third consecutive month, the country’s current account surplus was ، 73 million in September alone. In September, the deficit was کروڑ 278 million.
The SBP said that in the first quarter of the current financial year, there was a current account surplus of کروڑ 92 million, while in the same period last year, Pakistan was facing a current account deficit of ارب 1.45 billion.
Later, Prime Minister Imran Khan wrote in a tweet announcing the current account surplus, ‘Great news for Pakistan’, we are finally on the right track, with a surplus of 73 73 million in September. The current account is up 79 792 million for the first quarter.