Monday, May 20, 2024

Pakistan’s Current Account Deficit Fell to just $0.5 Billion in Feb 2022

Pakistan’s recent account balance of Finances — the difference among the country’s higher global expenditure and inadequate amount of earnings— has contracted dramatically to $545 million ($0.5 billion) due to the timely actions taken through the authorities and relevant ministries.

According to the central bank’s figures released on Saturday, the current account deficit have fallen down “sharply” to $0.5 billion, the lowest in FY22 and one-fifth of the extent in January.

Meanwhile, Prime Minister Imran Khan said that “timely steps” to decrease the country’s expansion, which the current account deficit have shown in results.

“Timely steps to reduce the current account deficit bear fruit,” the PM said on his official Twitter account.

“In February, the deficit shrank to slightly $0.5 billion, down $2 billion from January [and] the lowest monthly deficit up till now [in this] monetary year.

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