'Great news': PM says Pakistan posted $447mn current account surplus in Nov

ISLAMABAD: Prime Minister Imran Khan tweeted on Tuesday that the country posted a current account surplus of $447 million in November.  

“MashaAllah despite Covid 19 great news on economy – remarkable turnaround. Current account surplus again in Nov: $447 mn,” the prime minister said.

“For fiscal year so far, surplus is $1.6 b[illio]n as opposed to deficit of $1.7bn same period last y[ea]r.”

MashaAllah despite Covid 19 great news on economy – remarkable turnaround. Current account surplus again in Nov: $447 mn. For fiscal year so far, surplus is $1.6 bn as opposed to deficit of $1.7bn same period last yr. SBP’s FX reserves have risen to about $13 bn, highest in 3 yrs

— Imran Khan (@ImranKhanPTI) December 22, 2020

Prime Minister Khan noted that the State Bank of Pakistan’s (SBP) foreign exchange reserves have risen to about $13 billion, the highest in three years.

The country’s current account had remained in surplus for the fourth month in a row at $382 million in October 2020 as compared to $59 million in September. Minister for Planning and Development Asad Umar had last month tweeted: “This is the 4th month of current account surplus.” He said the current account surplus was recorded at $1.2 billion during the July-October period.