Current account deficit drops 32pc

The country’s current account deficit fell by 32pc during the current fiscal year owing to the business-friendly policies adopted by the incumbent government to boost exports.

The Statistics Division has reported that the current account deficit fell to $13.59 billion during the fiscal year 2018-19, as compared to $19.90 billion in the same period last year.

Earlier on June 16, Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh had said that due to effective measures taken by the government, current account deficit had shirked to $7 billion during past few months.

Addressing a post-budget conference titled ‘Pakistan Back on Track’ in Islamabad, Hafeez Shaikh had said that the current government had inherited $20 billion, adding that it (government) was striving hard to overcome the fiscal and current account deficit in order to stabilise the economy.

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