Current account deficit shrinks by 54 pc in July-Aug
KARACHI: The current account deficit (CAD) shrank by 54 per cent during the first two months of the current fiscal year, reported ARY News.
According to figures released today, the CAD minimized by $1.55 billion (54 per cent) to $1.29 billion as compared to $2.85 billion in the corresponding period of the last year.
The CAD was recorded at 2.8 per cent of gross domestic product (GDP) as against 5.5 per cent of the year 2018-19.
Whereas, the trade imbalance fell by $2.17 billion to $4.60 billion in the same period as against last year’s deficit of $6.78 billion.
Earlier today, State Bank of Pakistan said the country’s total liquid foreign reserves stood at $15.89 billion during the week ending on September 13.
The central bank’s reserves saw an increase of $140 million to reach $8.6bn.