KARACHI: Pakistan’s current account deficit narrowed 16.79 percent to $8.424 billion during the first seven months of the current fiscal year of 2018/19 due to what the government said ‘credibility of interventions’.
The State Bank of Pakistan’s (SBP) data on Thursday showed that current account deficit shrunk $1.7 billion from $10.124 billion during the corresponding period a year earlier.
In January, current account deficit sharply fell 47.6 percent year-on-year to $809 million.
Khaqan Najeeb, a spokesperson of the finance ministry told The News that government’s policies are producing effective results “due to credible measures”.
“We are directionally moving strongly towards containing the yearly C/A deficit for FY2019,” Najeeb said. “Credibility of interventions is evident.”..read more