Thursday, August 11, 2022

Current account deficit shrinks to $5.72 bn in July-September


KARACHI: The steps taken by the Pakistan Tehreek-e-Insaf (PTI) government to recover ailing economy have started yielding results, as the current account deficit (CAD) has witness a remarkable decrease in first three months (July-September) of the current fiscal year.

According to figures released on Friday, the CAD was recorded at $5.72 billion as compared to $8.79 billion in the corresponding period of the last year.

Furthermore the exports also saw an increase of nearly 3pc and were recorded at $5.52 billion in the first three months of the ongoing fiscal year.

The imports were also shrunk by 21 per cent from July to September and stood at $3.78 billion in the month of September.

Read more: Country’s foreign reserves fall to $14.99 billion

On Thursday, Associated Press of Pakistan (APP) had reported that Overseas Pakistani workers had remitted $5478.11 million during the first three months (July-September) of Financial Year 2019-20.

During the month of September 2019, the inflow of workers’ remittances amounted to $1747.95 million, which is 3.4% higher than August 2019, according to the latest data of State Bank of Pakistan (PBS) released yesterday.


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